DBS Bank to launch Retail Crypto Trading in 2022
By MYBRANDBOOK
Piyush Gupta, CEO, DBS Bank has confirmed that the bank is planning to expand its crypto trending facility to its retail customers by the end of the year. Currently, the bank’s crypto trading service is limited only to institutional clients, who can only place crypto orders by calling the bank over the phone. The plan, according to Gupta, is to build an online digital assets exchange that will remain open 24/7.
Gupta said, “We are starting the initial work to expand it beyond the current investor base. Lots of work to do with suitability and anti-fraud… we should have something by the end of the year.”
DBS Bank’s decision to expand its crypto trading offering to cater to the retail market is unsurprising given last year’s spike in demand for crypto services. According to the CEO of DBS Digital Exchange, Lionel Lim, the exchange’s full-year crypto trading volume for 2021 jumped to $1.1 billion. $585.5 million of that was recorded in the fourth quarter alone.
As it has already acquired the Digital Payment Token License, DBS Bank is legally allowed to offer crypto trading services to retail customers, but it will not be allowed to market them. In January, the MAS issued guidelines to “discourage cryptocurrency trading by the general public,” forbidding providers from promoting crypto trading services through advertising in public areas or using third parties such as social media influencers.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Acer addresses evolving customer needs by consistently pushing
Acer offers a comprehensive range of products under one roof, including des
In India, 88% of Indian business leaders are planning to inves
As we move through 2024, it has become increasingly clear that AI is not ju
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
DELL TECHNOLOGIES INDIA PVT. LTD.
PDRL - Passenger Drone Research Pvt. Ltd.
LUMINOUS POWER TECHNOLOGIES PVT. LTD.
EXATRON SERVERS MANUFACTURING PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : NEERAJ MITTAL
He started his career as an IAS Officer in 1992. He has held various a...
Icons Of India : Anil Agarwal
Anil Agarwal, the Founder and Chairman of Vedanta Resources Ltd., is r...
Icons Of India : Dr. Sanjay Bahl
Dr. Sanjay Bahl has around four decades of experience in the ICT indus...
PARTNER SPEAKERS
PSU
NSE - National Stock Exchange
NSE is the leading stock exchange in India....
C-DOT - Center of Development of Telematics
India’s premier research and development center focused on telecommu...
STPI - Software Technology Parks of India
STPI promotes and facilitates the growth of the IT and ITES industry i...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - JAYASHREE ULLAL, President and CEO - Arista Network
Jayshree V. Ullal is a British-American billionaire businesswoman, ser...
Indian Tech Talent Excelling The Tech World - Steve Sanghi, Executive Chair, Microchip
Steve Sanghi, the Executive Chair of Microchip Technology, has been a ...
Indian Tech Talent Excelling The Tech World - PADMASREE WARRIOR, Founder, President & CEO - Fable
Padmasree Warrior, the Founder, President, and CEO of Fable, is revolu...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
