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OCBC Bank Mulls Setting Up Crypto Exchange: CEO
Southeast Asia’s second-largest bank is looking into a digital asset exchange to satisfy customer demand.
Updated May 11, 2023, 4:03 p.m. Published Nov 19, 2021, 12:26 p.m.
Oversea-Chinese Banking Corporation (OCBC Bank) is mulling creating a crypto exchange, the bank’s CEO Helen Wong said in an interview with Bloomberg Television today.
- “We are looking at it and seriously there are some work being done in the bank,” Wong said, adding that the bank wants to address customer needs “in a safe manner.”
- At the end of last year, Singapore-based OCBC had $121 billion in assets under management, making it the second-largest bank in Southeast Asia.
- OCBC rival DBS launched a crypto exchange in December 2020. DBS Vickers, the bank’s brokerage arm, received a license to offer crypto services from the Monetary Authority of Singapore in October.
Read more: DBS Vickers Gets Greenlight From Singapore Regulator to Provide Crypto Services
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