Private Cryptocurrencies Have No Future, Retiring MAS Director Said
The retiring MAS director believes the future monetary system will revolve around CBDCs, tokenized bank liabilities, and stablecoins.
DBS Bank cooperates with Standard Chartered PLC on developing distributed ledger technology for trade finance in Singapore.
The retiring MAS director believes the future monetary system will revolve around CBDCs, tokenized bank liabilities, and stablecoins.
The ‘BetterWorld’ gamified experience will be accessible to the public once the Sandbox’s Alpha Season 4 is launched before the end of 2023.
The merchant program ensures automated settlement of e-CNY into businesses’ DBS bank accounts.
The advent of the Onyx platform is one of the ways in which JPMorgan believes could help return back efficiencies in some aspects of the daily financing needs of its peers.
Singaporean banking giant DBS Bank and virtual gaming platform The Sandbox are working on creating a metaverse virtual world.
Singapore’s largest bank DBS is targeting rich clients, spread across Asia, to offer its crypto services.
DBS says its retail crypto trading desk will be broader in scope and accessibility than its current institutional service.
Although DBS is the first bank to join from Southeast Asia, this does not mean it is the only bank in the Hedera council. There are also South Africa’s Standard Bank and Korea’s Shinhan Bank in the Council.
Currently, DBS Digital Exchange offers trading services with Bitcoin, Bitcoin Cash, Ethereum and XRP.
Digital assets currently hosted on the Singapore-based bank’s digital asset exchange are Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and XRP.