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Singapore Bank DBS Unveils Self-Directed Crypto Trading

Singapore-headquartered DBS has launched a self-directed crypto trading function for accredited wealth clients to trade cryptocurrencies.

Widening access to DBS digibank provides additional access to DDEx, one of the world’s first bank-backed digital exchanges. Previously, crypto trading on DDEx was limited to corporate and institutional investors, family offices and clients of DBS Private Bank and DBS Treasures Private Client only.

Approximately 100,000 investors in Singapore now meet the criteria as accredited investors in the DBS Treasures segment.

“As a trusted partner that helps our clients to grow and protect their wealth, we believe in staying ahead of the curve and providing access to the solutions they seek,” said Sim S. Lim, group executive, consumer banking and wealth management at DBS Bank.

“Broadening access to DDEx is yet another step in our efforts to provide sophisticated investors looking to dip their toes in cryptocurrencies with a seamless and secure way to do so.”

Self-directed interest

According to the bank, which operates in Greater China, Southeast Asia and South Asia, DBS wealth clients are increasingly choosing self-directed options.

Nine out of 10 equity transactions executed digitally today. Starting from a minimum investment sum of $500, accredited wealth clients can trade Bitcoin, Bitcoin Cash, Ethereum, XRP on DDEx.

Benefits of crypto offering

Security: DDEx utilises 100 per cent air-gapped, cold storage technology with multi-layered security architecture to manage cybersecurity risks. Clients can trade within a secure closed loop environment operated by DBS, a well-regulated financial institution, allowing them to trade with confidence.

Convenience: With their DBS bank accounts and DDEx custody accounts seamlessly linked via DBS digibank, clients’ funds can be directly debited to support their transactions on DDEx.

View of their investments: From equities, bonds, foreign exchange to cryptocurrencies – clients now have a consolidated picture of all their investments in one place, rather than having to toggle multiple platforms to keep track of their various holdings.

DBS is also working on enhancing other aspects of the user journey to “make it even more seamless”, such as digitalising the onboarding process in 2023.


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