DBS Bank's securities business DBS Vickers receives MAS approval to provide digital payment token services

According to Finews on August 12, DBS Bank's securities business DBS Vickers has been approved by the Monetary Authority of Singapore (MAS), becoming the second financial institution in Singapore to be approved to provide token services after the cryptocurrency exchange Independent Reserve. It can provide digital payment token services under the management of the Payment Services Act. DBS issued a statement saying that the group has made steady progress in its asset digitization strategy, and DBS Vickers is one of the first financial institutions to obtain this principle approval. In the future, DBS Vickers can support fund managers and companies to trade digital payment tokens through DBS's digital exchange DDEX. In addition, starting next week, DDEX will operate around the clock, after only operating during Asian trading hours.