Singapore is at the forefront of the new trend of countries toying with various ways to integrate cryptocurrencies into their monetary and financial systems. Large institutions like DBS are likely to be quite interested in such trends. DBS is one of the biggest banks in Singapore and it also offers a wide range of brokerage services and investment packages to its clients.

DBS wants to get into crypto

It was only a matter of time before DBS will start offering cryptocurrencies as assets to their clients. The nation is already one of the most active in terms of cryptocurrency trading. The recent announcement that they will issue several more licenses to exchanges that want to operate within its borders was also a big news story for the whole crypto community starves of good news recently.

The country is moving ahead to wider adoption of blockchain-based financial instruments. The central bank announced its plans to issue a CBDC in the nearest future. Many traditional exchanges are offering their clients a way to interact with derivatives based on tokens or tokens themselves of spot markets.

However, larger institutions like DBS were still quite cautious and did not want to enter the market just yet due to various issues. Now, when the whole world is succumbing to the recession, it seems like a good moment for many wealthy investors to start hedging against fiat currencies and global inflation by investing in cryptocurrencies.

The wealthiest see the red line

Financial institutions like DBS are always slightly ahead of the curve. While it would be great for many banks to provide cryptocurrency products to their clients, some of the most respectable institutions were quite cautious and did not want to risk their reputations. Now, when BlackRock, Fidelity Investments, Samsung, JPMorgan, and many other huge players are entering the crypto arena, it seems that companies like DBS see a good opportunity to also join the fun.

DBS will offer its wealthy clients the ability to buy, store, and trade cryptocurrencies using the DBS web infrastructure. Currently, it is the only Singaporean bank to offer such services.