Singapore's DBS Group charts ambitious plans for digital exchange

DBS bank building at night in the central business district of Singapore. Photographer: Nicky Loh/Bloomberg

Singapore’s DBS Group expects to double the number of members on its new platform for cryptocurrency trading to 1,000 by end-December and grow this by 20-30% annually for the next three years as digital tokens gain acceptability.

In an interview, DBS‘s senior executives said DBS Digital Exchange, set up in December as a members-only bourse, is seeing robust demand from corporate investors, accredited individuals and investment firms that manage the fortunes of wealthy families.

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