Pang Huayi, Chairman of DBS China, mentioned in an interview that “DBS Bank plans to apply for a license that allows it to offer cryptocurrency services to Hong Kong customers. We expect to obtain a license for selling digital assets, but we don’t intend to replicate the ecosystem we have already established in Singapore. In fact, we want to provide (Hong Kong) customers with the opportunity to purchase digital assets through DBS Hong Kong, what is now avalable in Singapore.”
Pang Huayi added, “As a wealth management bank, we should enable investors to invest in diversified and innovative assets. These (digital) assets could eventually become a small portion of the investment portfolio, contributing to the expansion of asset categories in our portfolio. However, the development of the virtual asset industry is still a long process. It requires the monetization of digital assets and comprehensive visualization of alternative reserve currencies. Additionally, the use of digital assets in the real economy also needs to be expanded.”
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