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DBS Vickers obtains MAS approval to provide digital payment token services

Atiqah Mokhtar
Atiqah Mokhtar10/1/2021 9:52 AM GMT+08  • 2 min read
DBS Vickers obtains MAS approval to provide digital payment token services
DBS Vickers will now be able to support asset managers and companies to trade in digital payment tokens through DDEx.
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DBS Vickers (DBSV), the brokerage arm of DBS Bank, today announced that it has received formal approval from the Monetary Authority of Singapore (MAS) to provide digital payment token services as a major payment institution.

This will enable DBSV, as a member of DBS Digital Exchange (DDEx), to directly support asset managers and companies to trade in digital payment tokens through DDEx.

Eng-Kwok Seat Moey, head of capital markets at DBS and chair of the DDEx, says the approval places DBSV in a better position to support institutional and corporate investors in tapping into the growing potential of digital assets as an investment class.

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