DBS to launch full-service digital exchange - providing tokenisation, trading and custody ecosystem

DBS is setting up DBS Digital Exchange (From L to R) - Loh Boon Chye, CEO of Singapore Exchange; Michael Syn, Head of Equities at Singapore Exchange; Eng-Kwok Seat Moey, Group Head of Capital Markets at DBS; and Piyush Gupta, CEO of DBS

 

Singapore, 10 Dec 2020 — DBS today announced that it will set up a digital exchange, enabling Institutional Investors and Accredited Investors to tap into a fully integrated tokenisation, trading and custody ecosystem for digital assets.

With the DBS Digital Exchange, DBS will leverage blockchain technology to provide an ecosystem for fund raising through asset tokenisation and secondary trading of digital assets including cryptocurrencies.

Security Token Offerings — A regulated platform for the issuance and trading of digital tokens backed by financial assets, such as shares in unlisted companies, bonds and private equity funds.

Digital Currency Exchange — Cryptocurrency trading that will facilitate spot exchanges from fiat currencies to cryptocurrencies and vice versa. The DBS Digital Exchange will offer exchange services between four fiat currencies , and four of the most established cryptocurrencies, namely Bitcoin, Ether, Bitcoin Cash and XRP.

Setting the DBS Digital Exchange apart

The DBS Digital Exchange is a members-only exchange for Institutional Investors and Accredited Investors.

Extensive experience in providing secure and reliable custodial services, which will be extended to provide institutional-grade custody for digital assets with robust cybersecurity controls

Robust governance and controls — where proprietary artificial intelligence and machine learning solutions applied by DBS complement risk and control processes to monitor and prevent financial crime, credit risks and other potential cyber risks. Digital capabilities underpinned by a strong digital infrastructure to accelerate the development of a fully integrated digital asset ecosystem.

Singapore Exchange will take a 10% stake in the DBS Digital Exchange. Both parties will explore opportunities to deepen the liquidity, scale and growth of Singapore’s capital markets in the growing area of digital assets and digital currencies.

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Source: DBS Bank Ltd