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.

AccessTimeIconNov 19, 2021 at 12:26 p.m. UTC
Updated Nov 19, 2021 at 2:32 p.m. UTC

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

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 about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

CoinDesk - Unknown

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.