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DBS Bank officially launched a comprehensive digital trading platform



[Singapore, December 10, 2020] Today, DBS Bank announced the official launch of a digital trading platform to create a comprehensive digital asset tokenization, trading and custody ecosystem for institutional clients and accredited investors.

People in the picture (from left to right) are: Luo Wencai, CEO of Singapore Exchange; Michael Syn, Head of Equities Department of Singapore Exchange; Guo Xuemei, Head of Capital Markets Department of DBS Bank; executive officer

Through this digital trading platform, DBS Bank will use blockchain technology to provide asset tokenization and secondary market transactions including digital assets such as cryptocurrencies, forming an ecosystem for fundraising, including:

DBS Bank: The special feature of Bitcoin is that it can conduct continuous transactions without the need for a central party to clear transactions: Jinse Finance reported that according to a report published by Finews, despite concerns about continued market volatility, DBS believes that Bitcoin Bitcoin continues to offer "unique" opportunities because of its ability to conduct ongoing transactions without the need for a central party to clear transactions.

Daryl Ho, investment strategist at DBS Bank, said: I think whether the price changes or not, Bitcoin is still unique. If we just look at the price, you see a lot of volatility, which doesn't tell you what benefit it's actually delivering. Bitcoin's uniqueness is not based on its price, but on its utility, which enables funds to be transferred in a decentralized manner without the need for a central counterparty to clear transactions. [2022/10/15 14:28:33]

Security Token Offering – a regulated platform for the issuance and trading of digital tokens backed by financial assets, such as shares of unlisted companies, bonds and private equity funds.

Singapore's DBS Bank is actively exploring the Metaverse: Golden Finance News, Singapore's DBS Bank (DBS) is actively exploring the Metaverse and considering entering the Metaverse field, and is preparing to invest part of its funds in the Metaverse to consolidate its digital banking business. DBS chief information officer Jimmy Ng said one way the bank could get involved in the Metaverse could be by establishing a pathway for customers to access its banking services through the Metaverse. ( [2022/4/11 14:18:02]

Digital Currency Transactions - Cryptocurrency transactions that enable two-way spot exchange from fiat currencies to cryptocurrencies. The DBS digital trading platform will provide mutual exchange services for four currencies (SGD, USD, HKD, JPY) and four of the most established cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, Ripple).

DBS joins Hedera's management committee: Jinse Finance reported that Singapore's DBS Bank has joined Hedera's management committee, making it the first Southeast Asian lender to join the global group. The Hedera Governance Council aims to promote the application of the Hedera Hashgraph network in decentralized finance, non-counterfeiting tokens, central bank digital currencies, gaming and other industries. Council members serve an initial term of three years, renewable for a maximum of two terms. According to Hedera's website, members have equal voting rights and are designed to manage software changes to the network while providing stability and "continuous decentralization".

It was previously reported that the bank's brokerage department, DBS Vickers, has obtained the "main payment institution" operating license issued by the Singapore Monetary Authority. (coindesk) [2021/10/27 21:01:38]

Digital Custody Services - An institutional-grade digital custody solution designed to meet the growing demand for safe custody services for digital assets under current regulatory standards. DBS Digital Custody Services builds on its experience in providing world-class custody services for traditional assets, escrowing the cryptographic keys that govern digital assets on behalf of clients.

DBS Bank of Singapore’s official website has withdrawn digital asset exchange related news: According to today’s news, Singapore’s largest commercial bank DBS Bank (DBS) announced on its official website the launch of a digital trading platform DBS Digital Exchange, and revealed that the platform supports BTC, BCH, ETH and The fiat currency (SGD, HKD, JPY, USD) transactions of the four XRP tokens. However, shortly after the news was released, DBS Bank’s official website removed the DBS Digital Exchange introduction page, and relevant information cannot be displayed or queried on the DBS Bank’s website. [2020/10/27]

Today's announcement follows DBS's in-principle approval from the Monetary Authority of Singapore to be granted a "Recognized Market Operator" license, which authorizes DBS to engage in trading in assets such as equities, bonds and private equity funds. Organized marketing activities.

It is estimated that in 2019, the daily transaction volume of global digital trading platforms is between US$50 billion and US$100 billion.

The exponential growth of asset digitization presents a huge opportunity to reshape capital markets. Singapore’s competitiveness as a global financial center is increasing day by day, and we must be ready for the mainstreaming of digital asset and currency trading. DBS is committed to accelerating the development of a fully integrated ecosystem to facilitate this transformation. DBS Bank's digital transaction platform is integrated and differentiated, and it is the first platform product of its kind.

——Gold Burdard, Chief Executive Officer, DBS Group

Unique DBS Digital Transaction Platform

DBS Digital Trading Platform is a membership-based trading platform for institutional and accredited investors only.

Members will benefit from DBS Group's expertise in several areas, including:

The deep professional accumulation of transaction initiation, the leading position in the major capital markets in Asia, and the extensive corporate network are also potential issuers of digital trading platforms;

Well-established investor base and distribution network - access to a large and diverse investor base through DBS Private Banking and DBS Vickers;

Has extensive experience in providing safe and reliable custody services, will expand to the field of digital assets, and provide institutional-level custody services with strong network security control;

Robust governance and controls – DBS’s proprietary AI and machine learning solutions address risk and control processes to monitor and prevent financial crime, credit risk and other potential cyber risks;

The digital capabilities supported by a strong digital infrastructure promote the accelerated development of a fully integrated digital asset ecosystem.

SGX to take stake in DBS Bank's digital trading platform

Singapore Exchange (“SGX”) will hold a 10% stake in DBS’s digital trading platform. The two parties will explore opportunities to enhance the liquidity, scale and growth rate of Singapore's capital market in the booming digital asset and digital currency space.

SGX invests in DBS Bank's digital trading platform to jointly build a digital asset ecosystem

We are excited to apply SGX's strengths in market infrastructure and risk management to this project. In the world of digital assets, there are significant opportunities to improve trust and efficiency in the price discovery process. We look forward to working closely with DBS to enhance Singapore's status as a multi-asset international financial centre. ——Singapore Exchange CEO Luo Wencai


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The article is contributed by Biquan Beiming, the columnist of Jinse Finance and Economics, and his remarks only represent his personal views.