DBS Private Bank, one of the biggest wealth managers in Asia outside China, has launched a cryptocurrency trust solution amid growing demand for digital assets.
The new crypto trust solution allows the company’s private banking clients to invest, custody and manage cryptocurrencies.
“Our trust structure allows clients to conveniently hold these assets, with a peace of mind that they will be safely managed and passed on to their intended beneficiaries,” DBS Private Bank group head Joseph Poon said.
DBS’ newly launched crypto trust solution comes shortly after the company recorded tenfold volume growth on its cryptocurrency exchange in the first quarter of 2021.
Major investment bank Goldman Sachs also confirmed its plans to offer crypto-assets to investors starting in Q2 2021.
