DBS private bank Singapore’s biggest bank is about to launch Crypto trust solutions. Moreover, the bank posted tenfold Crypto volume growth in Q1 2021. In addition, the bank is expanding its Crypto Services with a new trust solution.
DBS private bank
DBS private bank is one of the most prominent wealth managers in Asia outside China. It has launched a cryptocurrency trust solution amid growing demand for digital assets. Moreover, the bank set up its own Crypto exchange in December 2020.
DBS trustee
According to the Business, times report the Singaporean banking giant is currently expanding its Crypto services. The expansion is done through its wholly-owned trust company DBS trustee. This Crypto trust solution helps the company’s private banking clients to invest, custody, and manage cryptocurrencies.
Moreover, the trust is offering support to four cryptocurrencies, including Bitcoin (BTC), Ether (ETH), XRP, and Bitcoin Cash (BCH).
Joseph Poon
Joseph Point is the head of the DBS private bank group. He said that the trust structure allows clients to hold the assets conveniently. In addition, they can be safely managed and passed on to their intended beneficiaries.
Most of the clients have expressed interest in investing in Crypto or already invested in digital assets. He also says that they are expecting the acceleration of this trend as cryptocurrencies turn more mainstream.
