DBS Exchange is a project from the Singaporean bank
Even the largest companies today want and can invest in Blockchain. Moreover, some enterprises of a serious scale do not just invest in third-party developers, but they are also engaged in their own projects. One of these is the DBS Digital Exchange, developed and launched on the basis of the largest Singapore bank. What is this site? Who can trade in its vastness? And is it worth paying attention to a new project at all? Let’s figure it out. The answers to all these and many other questions are collected below. So let’s get started.
Let’s start, by tradition, with the context. First of all, you need to understand what exactly will be discussed. Therefore, we will first discuss the company behind the creation of a new digital platform. This is the largest bank in Singapore. Of course, this is not a monopolist, but one of the most serious players in the money transfer market in the region. The popularity of DBS Bank is known to every trader from Asia, as well as to the reader who is interested in local monetary orders. This is a fairly progressive company. The company is actively expanding the range of its own tools, providing its customers with more and more new solutions.
Among the latter is a digital exchange. It is obvious that working with fiat and crypto assets should take place in the digital space. And not on third-party sites, but on the bank’s own resource. This approach will reduce the commissions faced by users, as well as, in principle, greatly simplify the interaction between the client and monetary transactions. That is why the developers at the end of this October, in a closed form, announced the beginning of the creation of the corresponding solution. True, the confirmation of the information was soon removed. Apparently, the representatives of the project were afraid of unnecessary publicity.
Nevertheless, at the moment the information is reliable: DBS Bank will launch its own digital platform. Let’s dive into the details of the project and consider its potential prospects. More about this in the next section.
What does DBS Exchange offer?
Judging by the regional affiliation of the platform, you could understand the approximate range of currencies that are supported on the site. Among the assets available for trading are currencies such as the Japanese yen, the Singapore dollar, the US dollar, as well as a number of cryptocurrencies. At the moment, the integration of only large coins is considered. We’re talking about Bitcoin, Ripple, Ethereum, and Bitcoin Cash. Independent projects such as DASH or Monero have not yet confirmed the listing of their own tokens within the platform.
However, instead, the developers promised to launch their own functionality to simplify the work with tokens. As part of the exchange, a system will work that will allow you to independently issue cryptocurrencies. This will take investment collection even in small businesses to the next level. Of course, there are commissions. The declared share of the company will be 10%. That is how much the owner of the exchange will charge for providing his own services.
To get started, you will need the status of an institutional client of the site or confirmation of the investor’s accreditation. Thus, the project representatives greatly expand the opportunities for users, while ensuring that only verified traders will trade on their platform. This is a great policy that will definitely bear fruit of its own. However, the effectiveness of DBS Exchange remains to be seen. The main thing is to follow the news of the cryptoindustry in order to stay up to date with the latest developments in the world of Blockchain and technology. All the latest news are published on our website. We post only interesting and high-quality material. Thanks for attention. Good luck!