- DBS bank in Singapore wants to expand its digital asset offerings to more of its 300,000 users.
- The bank is also looking to upgrade its mobile application to make the process more user-friendly.
- DBS holds $488 billion in total assets as of December 31, 2021.
DBS Group Holdings, Singapore’s largest bank, is looking to expand its bitcoin and cryptocurrency services to 300,000 of its wealthiest users, per a report from the Financial Times.
In particular, DBS wants to expand its existing digital assets exchange to these larger clients which currently boasts nearly 1,000 users. The bank’s targeted clientele in Asia consists of private banks, accredited investors and other exchanges, all of which can manage funds through the bank’s mobile application. Now, DBS plans to upgrade its app, allowing clients to also manage digital assets.
upcoming framework for the digital asset industry.