Singapore's largest bank, DBS Bank announced its latest product, offering cryptocurrency trading for retail investors, as early as the end of this year.
For the record, DBS Bank has previously offered similar investments to institutional investors in October 2020.
Before further expanding the trading offerings of digital assets to retail investors, many aspects are considered and one of them is to focus on the suitability of the investment and the potential opportunities for fraud.
For now, DBS Bank users need to contact the bank to make a purchase against the cryptocurrency.
It is understood that DBS Bank is working to set up a crypto exchange platform similar to Binance.
However, it is still unclear whether users are allowed to transfer their assets into digital wallets.
DBS Bank is not the first bank to support the crypto market.
From the very beginning, some of the world's banking institutions in Southeast Asia have already made strides in crypto investment.
Started with Siam Commercial Bank, Thailand since last year and followed with Union Bank, Philippines last month.
