During an earnings call, the CEO of dbsbank said that the bank is planning on launching a retail crypto exchange by the end of the year. thesamreynolds reports.
Piyush Gupta, chief executive officer of DBS Group Holdings. , is planning on expanding its digital assets trading offerings to retail investors by the end of the year, its CEO said on an earnings call Monday.
“We are starting the initial work to expand it beyond the current investor base [of accredited investors],” CEO Piyush Gupta said on an earnings call. “Lots of work to do with suitability and anti-fraud… we should have something by the end of the year.” Gupta also said that the bank will take the first half of the year to focus on making access to the digital assets trading desk more convenient for its existing customers. Currently, users need to call a banker to place an order for crypto over the phone. The plan, Gupta said, is to make it online and self-service.
DBS has yet to announce additional details about the platform, such as if you’d be able to transfer digital assets purchased on it to other providers or wallets. The Monetary Authority of Singapore has a licensing regime in place for retail exchanges. In December,
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