DBS private bank offers wealth succession planning for cryptocurrencies By Reuters

1 month ago 16

© Reuters. FILE PHOTO: A DBS logo connected their bureau gathering successful Singapore, February 22, 2016. DBS Group Holdings, Singapore’s biggest lender, posted a 20 percent emergence successful quarterly nett that bushed expectations, arsenic its nett involvement borderline roseate to a five-year high. REUT

HONG KONG (Reuters) – DBS Group (OTC:) said connected Friday its backstage banking limb has started offering spot services for cryptocurrencies, helping affluent clients see the emerging plus people successful their succession plans.

This is the latest determination into cryptocurrencies by Southeast Asia’s largest bank, which precocious past twelvemonth launched a cryptoexchange for organization and different accredited investors.

Several different banks astir the satellite are cautiously starting to connection crypto-related services, often to their precise affluent clients, drawn by the caller surge successful the terms of bitcoin and different cryptocurrencies.

has risen much than 70% truthful acold this year, adjacent aft volatility driven by a bid of tweets by Tesla (NASDAQ:) CEO Elon Musk.

DBS said connected Friday its spot subsidiary is offering backstage banking clients enactment for investing in, storing and managing integer assets for cryptcurrencies including the 2 largest, bitcoin and ether, and including these assets into their wealthiness succession plans.

“International regulations and protocols are inactive nascent successful the integer plus space, which could springiness emergence to complications oregon unnecessary disorder if due measures are not successful spot to forestall them,” said Lee Woon Shiu, determination caput of household office, wealthiness readying and security solutions astatine DBS Private Bank, successful a statement.

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