Singapore's largest bank to launch cryptocurrency exchange

The new platform will start working next week. Its clients will be able to make transactions with Bitcoin and morethree popular digital coins.

Singapore's largest bank, DBS, has announced the launch of the DBS Digital Exchange.The Singapore Stock Exchange will receive a 10 percent stake in the new platform.

The platform launch is scheduled for next week.Only institutional and accredited investors will be able to trade on it. Transactions can be made with four cryptocurrencies - Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Ripple token (XRP). There will also be 4 national currencies available for trading - Singapore dollar, US dollar, Hong Kong dollar and Japanese yen.

In addition to working with cryptocurrency, the platform will provide the opportunity to issue asset-backed digital tokens and trade them.The company also introduced a castodial service for storing digital assets.

In late November, Sberbank announced plans to launch a service to buy digital assets.The head of the company Herman Gref said that the company wants to bring to the market a blockchain platform to work with a new asset class, and is consideringthe possibility of issuing its digital currency "Sbercoin."

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