Banking on crypto raises risks for traditional lenders
Industry observers caution over the trade-off between securing a first-mover advantage and dealing with reputational risks
Add BT as a preferred source
Singapore
AS more banks in South-east Asia plant their flags in the cryptocurrency sphere, some industry observers have sounded a note of caution over the trade-off between securing a first-mover advantage and dealing with reputational and operational risks.
A foothold in this nascent space could boost trading and custodial fees for traditional lenders over time. But revenues from these diversified streams are unlikely to be significant in the next few years, some experts said.
TRENDING NOW
Wealth of Singapore’s 50 richest diverges as OCBC, Sheng Siong boom offsets tech slide
Massive tax bill clouds sale of Singapore land by Malaysian king’s son
Canada’s fight with the US has far bigger stakes than trade
What’s luck got to do with it? Everything, says Malaysian jewellery king Tomei’s chief
