Crypto Trusts Are Now Available In the Largest Singapore’s Bank
DBS bank, the largest Singapore’s bank, launched the option of crypto trusts. The cryptocurrencies covered by the investment trusts are Bitcoin, Ethereum, XRP and Bitcoin Cash. The trusts are available in several fiat currencies.
It’s the first offer in Asia of such kind, according to the bank’s statement. It is implemented through the DBS Trustee, a trust company owned by the bank. Its CEO, Joseph Poon, goes after the needs of his customers who are interested in crypto investment.
The holding already has a crypto trading platform called DBS Digital Exchange. Its trading volumes keep growing. In addition, they are going to launch the custodial services and hold an STO in Q2 of this year.