Singapore’s Bank DBS Launches Asia’s First Crypto Trust Service

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DBS Private Bank, a well-known bank based in Singapore, has just announced it has launched the first bank-backed crypto trust service Singapore-based DBS Private Bank launches Asia’s first cryptocurrency trust service backed by a bank, CoinDesk has reported.

According to the press release shared today, from now own, its clients will be able to invest and manage a maximum of 4 assets (Bitcoin, Ether, Bitcoin Cash and XRP) through the trust company DBS Trustee, which will be hosted on the banks digital asset exchange.

These cryptos will be paired with the Singapore dollar, the Hong Kong dollar, the Japanese yen and the US dollar.

We must remember that the bank offers other services related to cryptocurrencies, including the custody of digital assets.