According to a Bloomberg report, the major financial institution of Singapore, DBS bank, is aiming to apply for a license in Hong Kong to provide crypto services in the city.
Sebastian Paredes, chief executive of DBS Bank (Hong Kong), stated “We are planning to apply for a license in Hong Kong so that the bank could sell digital assets to our Hong Kong customers.”
DBS will be one of the lenders interested once the rules in the city are clear and the bank “understands exactly the framework,” according to Paredes.
Last month, Hong Kong’s financial secretary Paul Chan claimed that Hong Kong seeks to be the crypto hub claiming that Hong Kong became a quality standing point for digital asset corporates as some crypto exchanges collapsed one after another.
