The Development Bank of Singapore Limited (DSB) has announced that it plans to apply for a license for crypto services in Hong Kong.
DBS Group Holding continues its efforts to become the epicenter of digital assets for China. It reported that it has applied for a license to provide crypto services to customers in the Hong Kong region.
Hong Kong Highlights the Importance of Digital Assets
“We are considering applying for a license in Hong Kong so that the bank can sell digital assets by Hong Kong customers,” said Sebastian Paredes, CEO of DBS. Hong Kong continues to push in all areas related to digital assets. Financial secretary Paul Chan stated that efforts are underway to make the city the epicenter of crypto.
The company stated that it has a moderate approach to digital assets and will continue to work in this area. Adding to his statements, he touched on security issues. The city said last year’s collapse would make it safer for the industry to take action after the trust problem created by companies like the Three Arrow Capital fund and crypto-related debt offering Hodlnaut. In the light of these events, it was emphasized that the interest in the sector and the works will continue in a safe scope.
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