Beautiful Virgin Islands

Monday, Aug 04, 2025

Singapore’s DBS bank to launch digital currency exchange

Singapore’s DBS bank to launch digital currency exchange

DBS Digital Exchange will be the world’s first cryptocurrency exchange backed by a traditional bank, says DBS chief Piyush Gupta

Singapore’s largest bank DBS is launching a digital currency exchange featuring four top cryptocurrencies – Bitcoin, Ether, XRP and Bitcoin cash.

DBS Digital Exchange would be the world’s first cryptocurrency exchange backed by a traditional bank, said DBS chief Piyush Gupta on Thursday. The platform is open to institutional as well as elite retail investors.

A local cryptocurrency expert said the announcement, which comes amid the ongoing Singapore Fintech Festival, would likely boost perceptions of cryptocurrencies as “legitimate investments”.

DBS hopes to have the exchange running as early as next week. It will allow the cryptocurrencies to be traded against four fiats: the Singapore dollar, the US dollar, the Hong Kong dollar and the Japanese yen and trading hours will be from 9am to 4pm, Monday to Friday.

The bank has already received in-principle approval from Singapore’s central bank, the Monetary Authority of Singapore, for the exchange to operate organised markets for assets such as shares, bonds and private equity funds.

The Singapore Exchange (SGX) is a 10 per cent shareholder in the set-up.


A man walks past a DBS sign in Singapore.


In addition to allowing trades of cryptocurrency, the DBS Digital Exchange would conduct security token offerings. These are a type of cryptocurrency tied to actual assets, such as real estate, cars, or corporate stock. This means companies from small and medium-sized enterprises to multinational corporations can raise capital by digitising their financial assets such as shares in unlisted companies, bonds and private equity funds.

Gupta said the “integrated offering” was significant because it would include issuance, investing and trading of securities tokens. Gupta said current cryptocurrency exchanges “tend to lack the possibility that being part of a banking group can bring to this activity”.

“We bring a large origination capability from our capital markets presence. We bring a substantial distribution capability, which includes into our own private bank and wealth base as well as institutional client base. And because we are an established custody house, we’ve built a lot of capabilities and knowledge and experience in managing the custody function as well,” he said. “So leveraging the power and strength of DBS bank allows us to build volume, liquidity and scale in this exchange in a manner which a lot of other bespoke exchanges find difficult to do.”

While institutional investors including financial institutes and market makers can access the exchange directly, retail investors – who have to be accredited inventors – would have to access it via DBS Vickers Securities or DBS Private Bank. Under the central bank regulations, accredited investors are those whose annual income is at least S$300,000 (US$224,000), or their personal assets exceed S$2 million or net financial assets exceed S$1 million.

Unlike other digital exchanges, this one will not hold the crypto assets. These will instead be kept with the banking arm of DBS via an “institutional grade” custodian.

Gupta said the move comes amid global trends such as the exponential growth in private markets and cryptocurrency markets. For example, cryptocurrency markets have grown to over 3,900 different currency types and are now traded across more than 300 exchanges with a market cap of US$570 billion.

Kenneth Bok, the chief executive at blockchain advisory Blocks and a cryptocurrency expert, said it was a significant development given DBS’s “excellent branding in the region” and the bank’s exchange would “give the ownership of cryptocurrencies more legitimacy, and provide for institutional grade protection in owning cryptocurrencies”.

Bok added that banks in Singapore were “somewhat famous” for denying crypto start-ups bank accounts due to know-your-customer (KYC) and anti-money-laundering risks (AML), so having this exchange “definitely shifts the perception of cryptocurrencies as legitimate investments”.

“This will improve the cryptocurrency cybersecurity standards to the level of banks,” he said.

The future of cryptocurrencies was among the key topics debated this week at the Singapore Fintech Festival, one of the world’s biggest state-backed conferences in the sector.

While acknowledging that digital currencies had their benefits, Gupta in a panel session at the conference on Monday said it was best for central banks to issue digital currencies given the KYC and AML risks.

“You get the benefits without throwing the baby out with the bathwater … so I do think you will find, over the next few years, that some kind of a network stitched together but with central bank digital currencies at the core, could become a reality,” he said.

In the press conference on Thursday, Gupta said meeting regulatory standards on KYC and AML was among the reasons DBS had “taken some time” to launch the exchange.

Bulge-bracket banks have remained somewhat lukewarm over directly handling cryptocurrencies even as the value of the likes of Bitcoin surged to record highs this year.

The European Central Bank’s chief Christine Lagarde last week reiterated that cryptocurrencies such as Bitcoin – which hit an all-time high of nearly US$20,000 in late November – were “highly volatile, illiquid and speculative”.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
OpenAI’s Bold Bet: Teaching AI to Think, Not Just Chat
Tesla Seeks Shareholder Approval for $29 Billion Compensation Package for Elon Musk
Nvidia is cutting prices on its RTX 50-series graphics cards after sales slowed and inventories piled up
Ghislaine Maxwell Transferred to Minimum-Security Prison Amid Ongoing DOJ Discussions
U.S. Tariffs Surge to Highest Levels in Nearly a Century Under Second Trump Term
Matt Taibbi Slams Media for Role in Russiagate Narrative
Pilots Call for Mental Health Support Without Stigma
All Five Trapped Miners Found Dead After El Teniente Mine Collapse
Ong Beng Seng Pleads Guilty in Corruption Case Linked to Former Singapore Transport Minister
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
Italy Fines Shein One Million Euros for Misleading Sustainability Claims
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
Declassified Annex Links Soros‑Affiliated Officials and Clinton Campaign to ‘Russiagate’ Narrative
UK's Online Safety Law: A Front for Censorship
Nationwide Protests Erupt in Brazil Demanding Presidential Resignation
Parents Abandon Child at Barcelona Airport Over Passport Issue
Mystery Surrounds Death of Brazilian Woman with iPhones Glued to Her Body
Bus Driver Discovers Toddler Hidden in Suitcase in New Zealand
Switzerland Celebrates 734 Years of Independence Amid Global Changes
U.S. Opens Official Investigation into Former Trump Prosecutor Jack Smith
Leaked audio of Canada's new PM Mark Carney admitting the truth about the Net Zero agenda: "We're gonna make a lot of money off of this."
China Enforces Comprehensive Ban on Cryptocurrency Activities
Absolutely 100% Realistic EVO Series Doll by EXDOLL (Chinese Company) used mainly for carnal purposes
World Economic Forum founder Klaus Schwab: "In this new world, we must accept... total transparency. You have to get used to it. You have to behave accordingly. But if you have nothing to hide, you shouldn't be afraid."
Meet Mufti Hamid Patel, head of Office for Standards in Education in Pakistan
George Soros tells the World Economic Forum: "President Trump is a con man and the ultimate narcissist, who wants the world to revolve around him."
Hamas are STARVING the hostages.
Decline in Tourism in Majorca Amidst Ongoing Anti-Tourism Protests
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
Poland Begins Excavation at Dziemiany After New Clue to World War II‑Era Nazi Treasure
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Threatens Canada with Tariffs Over Palestinian State Recognition
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Trump Sues Murdoch in “Heavyweight Bout”: Lawsuit Over Alleged Epstein Letter Sets Stage for Courtroom Showdown
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
Trump Administration Finalizes Broad Tariff Increases on Global Trade Partners
J.K. Rowling Limits Public Engagements Citing Safety Fears
JD.com Launches €2.2 Billion Bid for German Electronics Retailer Ceconomy
Azerbaijan Proceeds with Plan to Legalise Casinos on Artificial Islands
Former Judge Charged After Drunk Driving Crash Kills Comedian in Brazil
Jeff Bezos hasn’t paid a dollar in taxes for decades. He makes billions and pays $0 in taxes, LEGALLY
China Increases Use of Exit Bans Amid Rising U.S. Tensions
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Procter & Gamble to Raise U.S. Prices to Offset One‑Billion‑Dollar Tariff Cost
House Republicans Move to Defund OECD Over Global Tax Dispute
Botswana Seeks Controlling Stake in De Beers as Anglo American Prepares Exit
Trump Administration Proposes Repeal of Obama‑Era Endangerment Finding, Dismantling Regulatory Basis for CO₂ Emissions Limits
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
A family has been arrested in the UK for displaying the British flag
Mel Gibson refuses to work with Robert De Niro, saying, "Keep that woke clown away from me."
×