ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Singapore bank DBS starts currency and crypto exchange

City-state moves forward on digitization to cement financial hub status

DBS' new digital exchange will allow for trading in Singapore dollars, U.S. dollars, Hong Kong dollars, Japanese yen and four cryptocurrencies.   © Reuters

SINGAPORE -- A digital exchange, which is being touted as the first for trading fiat money and cryptocurrencies with backing from a traditional bank in Singapore, was launched on Friday.

The full-service platform uses blockchain, or distributed ledger technology, to allow traders to exchange four currencies -- Singapore, U.S. and Hong Kong dollars, and the Japanese yen -- for four cryptocurrencies: Bitcoin, Ether, Bitcoin Cash and XRP.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more