DBS not opening crypto services to retail market anytime soon: CEO
However, he acknowledges the growing popularity of crypto, and that the banking sector will eventually have to look at creating guidelines for retail investors
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Singapore
DBS will not extend crypto trading services to retail consumers in the near future, its chief executive Piyush Gupta said at the bank's annual general meeting on Thursday (Mar 31), in what appears to be a U-turn of its stance on the asset class.
Gupta had said in February that it plans to extend crypto trading services to retail clients by the end of 2022. Its DBS Digital Exchange, launched in 2020, is currently a members-only exchange available to accredited and institutional investors. Its full-year trading volume for 2021 stood at about S$1.1 billion.
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