DBS CEO Piyush Gupta Cancels Launch of Crypto Trading for Retail Clients
1st April 2022 | Singapore
DBS CEO Piyush Gupta has announced the cancellation of the launch crypto trading for retail clients at the latest AGM (Annual General Meeting 31/3/22). In February 2022, DBS CEO Piyush Gupta had announced offering of crypto trading services by the end of 2022. In December 2020, DBS had launched DBS Digital Exchange (DDEX) for institutional investors and accredited investors. In 2021, DBS Private Bank, one of the largest regional private bank in Asia with $198 billion AUM, had launched a trust solution for cryptocurrencies, allowing its private banking clients to invest, custodies, manage digital assets and to integrate cryptocurrencies into their wealth succession plan. The list of cryptocurrencies available-then for DBS Private Bank’s trust solution are Bitcoin, Ether, Bitcoin Cash and XRP. (AUM ~ Assets under Management, includes DBS Private Bank, DBS Treasures Private Clients, DBS Treasures)
“ DBS CEO Piyush Gupta Cancels Plan to Launch Crypto Trading for Retail Clients “
2020/2021 Launch Crypto & Trust Solutions for Private Bank, Accredited Investors
In December 2020, DBS launched DBS Digital Exchange (DDEX) for institutional investors and accredited investors. DDEX is an integrated tokenisation, trading and custody ecosystem for digital assets, providing security and transparency for crypto-assets with institutional-grade safekeeping and custodial services, and robust due diligence on the chain source.
In 2021, DBS Private Bank, one of the largest regional private bank in Asia with $198 billion AUM*, had launched a trust solution for cryptocurrencies, allowing its private banking clients to invest, custodies, manage digital assets and to integrate cryptocurrencies into their wealth succession plan. The list of cryptocurrencies available for DBS Private Bank’s trust solution are Bitcoin, Ether, Bitcoin Cash and XRP. (AUM ~ Assets under Management, include
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