When a major bank like Singapore’s DBS decides to adopt blockchain technology, you know the tech is finally going mainstream.

In a first, DBS launched ‘DBS Digital Exchange’ in December 2020, where one can buy and sell cryptocurrency like Bitcoin, which has soared past US$40,000. DBS now has a digital asset exchange as well, which allows everything from companies to properties to be broken up for a larger pool for investors to get in on.

But DBS isn’t alone in this attempt to legitimise crypto assets. By 10 December, the Singapore Exchange (SGX) had already taken a 10% stake in DBS’ Digital Exchange.

AUTHOR

Benjamin Cher

Based in Singapore, Ben covers news and stories from the hub of Southeast Asia. He covers the intersection of technology and business, and how it affects Singapore and Southeast Asia. Ben was previously a reporter at The Edge Singapore.

View Full Profile

Sign up to our Southeast Asia edition to read this story instantly

To sign up, you’ll create an account that will give you access to a new free story published once a week and archive of previously published free stories from our Southeast Asia edition. You’ll also receive one email every morning from us introducing the day’s story.

If you’ve already signed up, just enter your email below or login using Facebook or Google.