DBS Private Starts Asia’s First Bank-Backed Crypto Trust Service
- Clients can invest, custodize and manage cryptocurrencies
- Traditional financial firms are ramping up crypto offerings
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DBS Private Bank started Asia’s first bank-backed trust solution for cryptocurrencies as demand for digital assets increases.
The offering will allow private banking clients to invest, custodize and manage these assets in a safe, secure, and structured manner, DBS Group Holdings Ltd. said in a statement on Friday. It builds on the DBS Digital Exchange, which launched in December, and offers institutional investors and accredited investors a fully-integrated tokenization, trading and custody ecosystem for digital assets.