DBS Launches Bank-Backed Bitcoin Service

DBS Private Bank has launched the first bank-backed cryptocurrency trust in Asia, which will allow private banking clients to invest in and manage bitcoin, according to a Bloomberg report.

Per the report, the trust services are built on DBS Digital Exchange and it would be offering cryptocurrency services to private banking clients for asset management, including for ether, bitcoin cash and XRP in addition to bitcoin. DBS Exchange was launched in December to offer fully integrated cryptocurrency services.

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