DBS Bank, one of Asia’s largest banks stated that Bitcoin is a Ponzi scheme three years ago. This stance has significantly changed in the past few years as the bank prepares to launch its own exchange. DBS Bank of Singapore has just announced the launch of a digital asset exchange featuring Bitcoin, Ethereum, Bitcoin Cash, and XRP and several fiat currencies including SGD, USD, HKD, and JPY. The bank’s stance on Bitcoin has changed radically since its first mention back in December 2017. Initially, DBS Bank said Bitcoin is some sort of Ponzi scheme and basically a financial scam. We see bitcoin as a bit of a Ponzi scheme. Bitcoin transactions are incredibly expensive and all the fees are hidden through the crypto-mechanisms. However, clearly, they don’t believe that anymore and are planning to launch crypto trading as early as next week. Additionally, the bank also stated that Security Token Offerings could also happen soon in about a month or two. Piyush Gupta, DBS Group CEO said You can tokenize anything, you can tokenize a painting. But for now, we will be concentrating on financial assets. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Forex Today: Markets are fragile in anticipation of political announcements FX Street 2 years DBS Bank, one of Asia’s largest banks stated that Bitcoin is a Ponzi scheme three years ago. This stance has significantly changed in the past few years as the bank prepares to launch its own exchange. DBS Bank of Singapore has just announced the launch of a digital asset exchange featuring Bitcoin, Ethereum, Bitcoin Cash, and XRP and several fiat currencies including SGD, USD, HKD, and JPY. The bank’s stance on Bitcoin has changed radically since its first mention back in December 2017. Initially, DBS Bank said Bitcoin is some sort of Ponzi scheme and basically a financial scam. We… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
