DBS Bank, Singapore’s largest bank, is working on expanding its cryptocurrency beyond the current base of institutional clients.
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During the Q4 2021 earnings call, Piyush Gupta, CEO of DBS Bank, stated that the company would focus on efforts to expand its crypto exchange operations in 2022.
Gupta further stated that DBS has a framework for rolling out digital asset trading to retail investors. DBS Bank started working on some work to grow its investor base.
DBS Bank would not be able to expand with retail support for its crypto exchange before finalizing the work, projecting to complete related developments by the close of 2022.
Gupta also expects the bank will boost its crypto trading platform significantly in the first half of the year. The bank is working on making access to digital assets more convenient by enabling quick online deposits and transactions.
DBS Bank has made significant strides into the crypto industry, developing its own institutional-grade crypto exchange in December.