DBS Bank plans to launch cryptocurrency trading services

Piyush Gupta, the CEO of DBS Bank has announced at the bank’s Q4 earnings that the bank is looking forward to launching crypto trading for retail investors by the end of 2022. He said that initially, the DBS bank will work on making digital assets easily accessible.

Gupta said that although banks services offered are 24/7, still customers feel the need to call customer care services and connect with bankers of their banking-related queries. Thus, DBS Bank aims at making all these services online, self-executable and faster. This would make operating online deposits faster and seamlessly with minimal intermediaries. DBS Bank will make sure that internal processes are well-equipped for smooth operations.

Gupta also said that the bank is experimenting with various ways to come out and expand beyond the accredited investor base in a better way. This includes the appropriate approach and mechanism about suitability and gauging potential for fraud