DBS Bank

Recently proposed by Singapore in collaboration with fintech heavy hitters, PBM can be a powerful tool for promoting accountability and efficiency, writes Anndy Lian. But it’s not without risks.

Singapore-based DBS bank has introduced a “merchant collection solution” using e-CNY – China’s central bank digital currency – to allow corporate clients of DBS China to collect payments from their customers in e-CNY, and avail the automated settlement of e-CNY directly into their bank deposit account.

The Monetary Authority of Singapore (MAS), the city state’s central bank, has proposed a framework for designing open, interoperable networks for digital assets, developed jointly with the Bank for International Settlements and other financial institutions. 

JPMorgan has reportedly launched a pilot project with top private lenders in India for interbank dollar transaction settlements through its blockchain platform, Onyx. 

DBS bank’s digital exchange, which serves institutional clients, said macroeconomic conditions last year were not suitable for security token offerings (STO), but it will explore opportunities for such listings in 2023 and plans to add more crypto tokens.

DBS Digital Exchange (DDEx), one of Asia’s first bank-backed digital exchanges, has reported a year-on-year increase of 80% in Bitcoin traded in financial year 2022, while the number of Bitcoin custodized with the bank doubled from 2021. 

Singapore’s DBS Group plans to apply for a license to offer crypto to Hong Kong customers as the city pushes to become a hub for digital assets.

Asset tokenization and DeFi hold tremendous potential for the finance sector, writes Han Kwee Juan of DBS Bank. Here’s how the Singaporean government is at the forefront of change.

Singapore-based DBS bank, the largest lender in Southeast Asia, has said it is the first bank in Asia to complete an intraday repurchase transaction on a blockchain-based network. 

DBS, the largest bank in Southeast Asia, said it tested trading of foreign exchange and government bonds using permissioned decentralized finance (DeFi) liquidity pools on a public blockchain as part of the city-state’s Project Guardian exploration of blockchain in finance.

The bank is in the center of developments shepherded by the Monetary Authority of Singapore to explore digital financial technologies emerging around blockchain.

DBS Bank, the largest lender in Southeast Asia, has partnered the Singapore government’s Open Government Products (OGP) to pilot purpose-bound money-based vouchers (PBM) using tokenized Singapore dollars to facilitate live transactions with selected merchants. 

Where does money fit into the future of the internet? We take a closer look as DBS plans to buy land in the metaverse.

DBS Bank Ltd., Southeast Asia’s largest lender, has launched a self-directed cryptocurrency trading service for accredited wealth clients.  See related article: Asia banking giant DBS jumps into The Sandbox metaverse Fast facts The bank’s wealth clients have been favoring self-directed options, with digital trades dominating 90% of equity transactions, DBS said in a press release […]

The Singapore-based bank said it will buy land in the metaverse to create the ‘DBS BetterWorld’ and build a virtual community.

Singapore’s largest bank, DBS, aims to expand its cryptocurrency and digital assets offerings to 300,000 new clients in the face of the crypto bear market, according to a Financial Times report on Tuesday.  See related article: Why DBS’ move into the digital asset space is more than a token gesture Fast facts In an interview, […]

Bitcoin custodied by Singapore-based DBS Digital Exchange (DDEx) grew by 30% from April 30 to June 30 this year while Ethereum under custody grew by 3% during the same period.  See related article: DBS Bank slams brakes on retail crypto trading Fast facts Bitcoin bought on DDEx in June was nearly four times that of […]

The crypto winter may have chilled many in Web3, but metaverses are an increasingly hot prospect in traditional finance, says DBS Bank’s legal chief

The Singapore-based banking behemoth may have found its reach constrained in retail crypto markets, but it still has big plans, CEO Piyush Gupta tells Forkast.

Forkast sat down with Singapore’s biggest bank for insights into crypto regulations in the city-state. Singapore has a reputation for planning far ahead, so what’s in store for cryptocurrencies?

Singapore’s largest lender won’t expand cryptocurrency trading on its exchange to retail investors any time soon due to “regulatory restrictions” in the island state. See related article: How Singapore is reimagining its ‘Asian crypto hub’ image Fast facts CEO Piyush Gupta said that regulatory agencies are “rightfully concerned” about holding back cryptocurrency trading for retail […]

Blockchain technology is rapidly transforming the finance sector. DBS Bank CEO Piyush Gupta offers an insider’s look at what’s coming next.

HK watchdog’s sends out warning calling NFT a threat, meanwhile in Singapore DBS plans a crypto expansion

DBS Digital Exchange (DDEx), one of Asia’s first bank-backed digital exchanges, recorded over SG$1.1 billion (US$818 million) in trading value in FY2021, the company said in a press release on Tuesday. Fast facts DDEx is currently a members-only exchange that provides corporate and institutional investors, accredited investors, and family offices that bank with DBS, access […]

DBS Bank — Southeast Asia’s largest lender — intends to scale its crypto exchange as it invests in blockchain and wants to be nimble to adapt to how DeFi evolves.

Singapore’s DBS Bank — Southeast Asia’s largest lender — has joined the Hedera Governing Council, a diverse group of companies that governs and supports the Hedera network, an enterprise-grade public ledger of transactions, according to a media statement. Fast facts DBS — the first and only bank in Southeast Asia to join the Governing Council […]

The Singapore government-incubated blockchain platform promises to dramatically speed up transactions and lower the cost of international trade.

The Monetary Authority of Singapore (MAS) today granted licenses to DBS Vickers (DBSV), the brokerage arm of DBS Bank, and Independent Reserve, an Australian cryptocurrency exchange, to provide digital payment token services under the Payment Services Act (PS Act). Fast facts Formal approval from MAS, which follows its earlier “in-principal approval” granted to both companies […]

DBS Vickers, the brokerage arm of Singapore’s DBS Bank, today announced that it has received in-principle approval from the Monetary Authority of Singapore to provide digital payment token services in Singapore as a major payment institution under the Payment Services Act. Fast facts DBS Vickers’ notification follows that of Australian cryptocurrency exchange Independent Reserve, reported […]

DBS eyes bigger investor base as digital assets under custody top US$100 million.

Ravi Menon, managing director of the Monetary Authority of Singapore, says technologies such as blockchain will help Asian nations to reduce carbon emissions.

From digital bonds to real estate, blockchain-enabled security token offerings and tokenization are redefining corporate fundraising and investing.

Thailand becomes one of the first governments to attempt DeFi regulation as India’s RBI clarifies that banking ban no longer exists.

Singapore’s DBS Bank has announced its first security token offering on the DBS Digital Exchange.

The power of tokenization can fundamentally transform the fabric of the financial system, Singapore’s DBS Bank CEO Piyush Gupta told the Consensus by CoinDesk 2021 conference taking place this week.

Diversification to allocate funds to Bitcoin is an “opportunity that (fiat) money cannot buy”, says DBS Bank’s chief investment officer.

The Asian crypto industry reacts to the US Department of Justice and Internal Revenue Service money laundering probe into Binance. In South Korea, the nation’s largest internet company plans to join Bank of Korea’s CBDC ventures. Over in Singapore, Southeast Asia’s largest lender DBS Bank expands its crypto services for its private bank clients by […]

What will happen to your Bitcoin keys and crypto wallets when you die? Southeast Asia’s largest bank will now take care of it all for the super wealthy.

DBS Bank says it has over US$60 million in crypto under custody and plans to expand trading hours to 24/7.

120 investors join DBS bank’s digital assets exchange in Q1 as Cardano looks to enable Sub-Saharan Africa with decentralized identities

JPMorgan, DBS Bank and Temasek jointly form a new company, Partior, to develop a blockchain platform for cross-border payments and settlements.

JPMorgan, DBS and Temasek launch Partior to digitize commercial money as stablecoin transaction volume surge in Asia-centric exchanges.

As Bitcoin and crypto market swells beyond $2 trillion, even crypto-friendly Singapore is warning the public about risks. Are more regulations coming?

Eugene Ng of Gemini, the cryptocurrency exchange that recently expanded in Singapore, explains why the Lion City is good for doing crypto business.

As bitcoin and other digital assets go mainstream, traditional banks want a piece of the action. Singapore’s crypto-friendly regulations are paving the way.

Other top blockchain and cryptocurrency news: Fine art goes digital with NFTs. Hong Kong in talks to pilot test China’s DCEP digital yuan.

Other top blockchain and cryptocurrency news: Bitcoin paper’s 12th anniversary. New Huawei phone has DCEP wallet. FDA on blockchain and food safety.