Singapore's DBS Bank says institutional and accredited crypto to remain its focus, but does not rule out a future retail desk. By thesamreynolds
The CEO of Singapore's DBS Bank said in a recent earnings call that his bank’s focus is on expanding its crypto offerings to accredited and institutional investors and will consider opening up a retail line when regulators and the technology is ready., DBS said that it plans to launch a retail crypto trading desk by the end of 2022. However, in early April it did a complete flip on the plans citing regulatory worries.
“We already have a large affluent, accredited investor crypto base that we can scale,” Gupta said during the call. “We won’t do any retail crypto in Singapore this year.” Gupta added that the technology to create a retail exchange is “taking a bit longer than expected.” Gupta said that during the last quarter trading activity"slowed a bit" but volume continues to grow. DBS' exchange now has almost SGD 1 billion worth of crypto in custody.to over 526,000 people with a net worth of over $1 million and 4200 people that have a net worth of over $30 million.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
80% of Institutional Investors Expect Crypto to Overtake Traditional Investments, Survey Shows – Featured Bitcoin NewsA survey by trading platform Bitstamp shows that 80% of institutional investors believe crypto will overtake traditional investment vehicles.
Weiterlesen »
Dragonfly Capital Launches $650M Venture FundThe crypto-focussed investment firm, Dragonfly Capital has closed its third fund with $650 million.
Weiterlesen »
VegaX Expands B2B Technology for Institutional Clients to Unlock Crypto Market – Press release Bitcoin NewsPRESS RELEASE. NEW YORK, April. 28, 2022 -- VegaX Holdings (“VegaX”), the cryptocurrency index platform providing actionable cryptocurrency indexes and
Weiterlesen »
Fellow NC Republican calls for insider trading probe of Rep. Madison Cawthorn's crypto holdingsThe allegations stem from Cawthorn's involvement with Let's Go Brandon coin, a cryptocurrency based on the conservative meme mocking President Joe Biden.
Weiterlesen »
New Altcoins Severely Underperforming BitcoinAccording to Jump Trading data, the crypto king continues to rule the roost despite losing its speculative luster
Weiterlesen »
Panama's legislature approves bill regulating cryptoPanama joins the club of countries with crypto regulation as it just passed the vote and it's only awaiting the president’s signature to become a law.
Weiterlesen »