Singapore’s biggest bank DBS backs crypto despite market slump

📆 6/9/2022 3:37 PM
📰 FT

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Take note of the key word 'Backs'. A bank backing crypto is just a bank processing transactions and earning fees in the process. All the risk is on the shoulders of the Buyers and Sellers. Call me when DBS puts Crypto on its books and opens itself up to spot price risk. 🤣😂🤣

An extremely convenient timing for banking institutions given MAS had recently expressed stronger intentions to curb retail access to cryptocurrencies. Perhaps we should not forget why crypto was invented in the first place.

Why? They trying to get into terrorists funding?

🤔

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