Singapore’s DBS Expands Crypto Trading For Potential Clients

The Development Bank of Singapore (Singapore’s DBS) has increased access to its members-only digital exchange’s crypto trading service. The bank noted in a statement released on Friday that its affluent clients were increasingly selecting self-directed investing paths, therefore the growth.

With a $500 minimum commitment, around 100,000 of the bank’s accredited investors and clients will be able to utilize the service.

It is worth mentioning that the service was formerly restricted to corporate and institutional investors, family offices, DBS Private Bank, and DBS Treasures Private Client customers.

According to Bloomberg, accredited investors in the DBS Treasures sector, which needs investable assets of S$350,000 (roughly $246,000), will now be able to trade tokens such as Bitcoin, Bitcoin Cash, Ether, and XRP on DBS Digital Exchange.

DBS also recently expanded its crypto services to over 300,000 customers.

The bank just announced cooperation with The Sandbox, a metaverse platform. The collaboration intends to provide new virtual services for DBS clients. The bank plans to buy a parcel of land to develop DBS BetterWorld, a metaverse-exclusive resort.

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