Long considered the “wild west” of finance, it seems that digital assets are a step closer towards mainstream recognition. DBS Bank has announced that it will set up a digital exchange, allowing institutional and accredited investors to “tap into a fully integrated tokenisation, trading and custody ecosystem for digital assets'' - a possible world first for the formal banking sector.
DBS will tap on its deep expertise in deal origination and leadership in capital markets across key Asian markets to provide the exchange with potential issuers. The bank’s large pool of existing investors, says CEO Piyush Gupta, are very keen to invest in tokenised assets and will provide a large client base for the DBS Digital Exchange (DDE).
“The exponential pace of asset digitalisation provides immense opportunities to reshape capital markets. For Singapore to become even more competitive as a global financial hub, we have to prepare ourselves to welcome the mainstream adoption of digital assets and currency trading,” Gupta told the media.