Many international banks, following US banks, have started working to start cryptocurrency trading.
Increasing adoption, which began in 2021, continues to bear fruit.
Finally, DBS Bank, one of the largest banks in Singapore, announced that it will launch cryptocurrency trading for retail users towards the end of the year.
“At the End of 2022”
DBS created a cryptocurrency trading desk for its institutional clients in 2021.
The bank will have been satisfied with this move that it now wants to offer this service to all bank customers.
Speaking today after the 4th quarter balance sheet of 2021 was announced, DBS Bank CEO Piyush Gupta said that the work continues, there is a lot of work to be done, but he predicts that this service will be operational by the end of 2022.
“We are starting the initial work to expand the crypto business beyond accredited investors. There is still a lot of work to be done when it comes to compliance and fraud prevention. We should get something by the end of the year.”
In addition, the CEO said that the crypto currency trading services offered to accredited investors will continue to be developed and the company is paying particular attention to this area.