DBS Retracts Plans to Launch Crypto Exchange for Retail Investors, Cites Regulatory ‘Environment’ Concerns


DBS Retracts Plans to Launch Crypto Exchange for Retail Investors, Cites Regulatory ‘Environment’ Concerns

The Asian banking giant DBS appears to have reeled in plans to open its crypto exchange services to retail investors – and has apparently been spooked by regulatory concerns.


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DBS to launch world’s first crypto exchange backed by a traditional bank

Singapore’s largest bank is launching the world’s first cryptocurrency exchange backed by a traditional bank. DBS said it could start trading as early as next week. The digital exchange aims to be a one-stop shop for institutional and elite retail investors. It will issue digital tokens that are backed by financial assets, and offer trading and custody services. The exchange will feature four top cryptocurrencies – Bitcoin, Ether, XRP and Bitcoin cash. They can be traded against the Singapore dollar, US dollar, Hong Kong dollar and Japanese yen.

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