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Samreen Ahmad · · 1 min readSG bank mulls setting up crypto exchange
“Oversea-Chinese Banking Corporation is considering whether to set up a crypto exchange as Southeast Asia’s second-largest lender seeks to respond to customer needs,” according to a Bloomberg report.
Details:
- OCBC’s CEO Helen Wong said crypto technology is worth studying but the bank won’t rush into the space.
- Goldman Sachs Group and JPMorgan Chase already offer futures trading in cryptocurrencies.
Dive deeper:
- Singapore is fast becoming a global crypto hub after Beijing came down heavily on cryptocurrencies. State institutions had in September announced a ban on transacting cryptocurrencies.
- In August, Singapore-based crypto startup Matrixport raised US$100 million, which propelled the firm’s valuation to over US$1 billion. (Read: How a Singapore crypto startup became a unicorn in just 2 years)
Editing by Collin Furtado and Arpit Nayak
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