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DBS plans to secure licence to offer digital assets in HK

DBS Group Holdings Ltd has announced a plan to secure a licence that will allow it to offer digital assets to customers in Hong Kong. Sebastian Paredes, Chief Executive of DBS Bank (Hong Kong), said at a recent briefing that they want to do business in Hong Kong also because of its existing policies that are “very sensitive” to the risks that are associated with digital assets. Bloomberg earlier reported the plans of the Singapore-headquartered firm. The same report quoted Paredes saying that when the regulations in Hong Kong are clear, and the bank “understands exactly the framework,” DBS will be one of the lenders who will surely take interest in the crypto market there. According to the Bloomberg report, Hong Kong was pushing to attract digital assets businesses.


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