The CEO of OCBC may be the second bank in S’pore to set up a cryptocurrency exchange – Wired PR Lifestyle Story

In an interview with Bloomberg Television last Friday (November 19), Helen Wong, CEO of OCBC, revealed that the bank is considering implementing a cryptocurrency exchange.

At the end of last year, it was owned by the Singapore OCBC $ 121 billion in management assets, making it the second largest bank in Southeast Asia.

“We’re looking at it and they’re doing some serious work on the bench,” Wong said. “If you say we’re looking at it, it’s very responsive to customer needs, but in a safe way. We want to help them recognize the investment and how to manage it. ”

Wong highlighted concerns about digital assets, including the security of the sector’s anonymous nature, including transaction security.

He also shared that although crypto technology is worth exploring because of its potential to increase efficiency, the bank will not rush into the sector just because of its reputation.

Separately, Aditya Gupta, head of digital at OCBC Bank, said Regulation Asia The OCBC partnership is “actively exploring” access to the cryptographic space.

Singapore is trying to establish itself as a global cryptocurrency hub, attracting many new businesses, even as city-states look to cryptocurrencies as an investment for retailers.

OCBC’s opponent launched a DBS crypto exchange in December 2020. DBS Vickers, the bank’s brokerage team, received a license to provide cryptographic services Singapore Monetary Authority in October.

He also has plans expand its digital exchange – which includes cryptocurrency services – retail sales for individuals next year.

Globally, more and more banks, including Goldman Sachs and JPMorgan, have begun offering crypto-futures trading.

Featured Image Credit: OCBC / The Fifth Person