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Seeking Alpha 2020-10-27 11:36:33

Singapore's largest commercial bank launching crypto exchange

A cached webpage on the site of DBS Bank introduces DBS Digital Exchange, offering access for trading several currencies for Bitcoin (BTC-USD), Bitcoin Cash (BCH-USD), Ether (ETH-USD), and Ripple (XRP-USD).The Exchange page was actually live for a brief amount of time, and then taken down.DBS is Southeast Asia's largest bank, so its entry into cryptocurrencies has fans excited. Grayscale's Barry Silbert: "This is a big deal."Bitcoin, meanwhile, is taking out new multi-year highs this morning, up 2.5% to $13,442. Bitcoin for part of yesterday tumbled right alongside stocks, upsetting to those hoping for it to break off from its correlation to equities. Hodlers drew plenty of encouragement in the afternoon, though, as Bitcoin managed to rally back over $13K despite stocks continuing to lose ground.

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