Singapore state-owned megabank DBS Group is planning to expand its cryptocurrency services to Hong Kong as the Chinese territory pushes to become a digital asset hub.
DBS Bank plans to apply for a license to allow it to offer crypto trading services to Hong Kong customers, Bloomberg“We are planning to apply for a license in Hong Kong so that the bank could sell digital assets to our Hong Kong customers,” DBS Bank Hong Kong CEO Sebastian Paredes said. Paredes noted that DBS welcomes new crypto-related policies in Hong Kong, and is also “very sensitive” to the risks associated with digital assets. The bank is willing to become one of the first lenders offering crypto in Hong Kong once the regulations are fully clear and DBS “understands exactly the framework,” he added.