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.