June 14, 2021

DBS Private Bank launches cryptocurrency investment service

DBS Private Bank launches cryptocurrency investment service

The growing demand for crypto assets has led to the emergence of a new custodian service.

DBS Private Bank, which is the largest bank in Singapore andone of the key asset managers in the Asia-Pacific region, opens cryptocurrency custody services through its subsidiary, DBS Trustee. This step for the banking organization became logical: in December 2020, seeing the demand for digital assets, the banking giant launched its cryptocurrency trading platform.

New service for storing digital assetsopens up an opportunity for bank clients to invest, place in custody, and also manage their investments in cryptocurrencies. The line of currently supported digital assets - Bitcoin, Ethereum, XRP, as well as Bitcoin Cash. It is these four assets that represent the instruments that can be traded through the trading platform opened by the bank.

DBS Private Bank is pleased to note thatthat the growth in the turnover of cryptocurrency trading on their site showed a tenfold rise in the first quarter of 2021. The bank plans to start offering services for the sale of digital assets that have signs of securities. The estimated launch time for such a service is until the end of June this year.

DBS Private Bank's portfolio of partnerships includescooperation with the state-owned Singaporean company Temasek on improving the processes of carrying out international financial transactions using blockchain technology.

It is noteworthy that in the world bankingthe community is gradually seeing a turn towards cryptocurrencies. So, this year, the American bank Morgan Stanley added the possibility of investing in bitcoins to 12 of its investment portfolios. Goldman Sachs has confirmed plans that it intends to start providing services for investing in cryptocurrencies during the second quarter of 2021. A number of major payment providers are also preparing to open up opportunities for their clients to invest in cryptocurrencies.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposit and withdrawal of funds in rubles, hryvnias, dollars and euros.

Site reliability is primarily determined bytrading volume and number of users. By all key metrics, Binance is the largest cryptocurrency exchange in the world. Binance is also the most popular cryptocurrency exchange in Russia and the CIS, since it has the largest turnover of funds and supports transfers in rubles from bank cards Visa / MasterCard and payment systems QIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

# Exchange: Website: Rating:
1 Binance (Editor's Choice) https://binance.com 9.7
2 Bybit https://bybit.com 7.5
3 OKEx https://okex.com 7.1
4 Exmo https://exmo.me 6.9
5 Huobi https://huobi.com 6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

  • Work reliability - stability of access to all platform functions, including uninterrupted trading, deposit and withdrawal of funds, as well as the period of work on the market and the daily trading volume.
  • Commissions - the size of the commission for trading operations within the site and the withdrawal of assets.
  • Feedback and support - we analyze user reviews and the quality of technical support.
  • Convenience of the interface - we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
  • Platform features - availability of additional features - futures, options, staking, etc.
  • final grade - the average number of points for all indicators, determines the place in the rating.

DBS Private Bank launches cryptocurrency investment service

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