news Singapore Bank speaks out on bitcoin

[BrolySSJ 7899]

DBS is one of the top banks in Singapore and they have an estimated value of $234 billion. On monday they released a report saying that bitcoin and other crypto are extremely innovative and that they have been a particular benefit to supply chains and cross-border banking. Asia is at the frontline of the crypto market with 70% of the bitcoin hashrate being accounted for in China alone - arguably the largest mining system for bitcoin. 

 

DBS said that the volume of bitcoin that is being traded has increased from $18 million per day in 2013 to $507 million in 2019. This is a tremendous increase and hopefully more banks start to take this more seriously and consider joining the crypto market soon. 

 

The source for the article is below:

https://cryptoslate.com/singapore-bank-says-bitcoin-crypto-is-no-more-the-wild-west/

[Mehar446 280]

Yes you are right. One day the banks will adopt the cryptocurrency  ecossystem for their existence.  They should do this step as soon as possible. This will also makes the cryptocurrency  more valueable & increase marketcap. Asia is really a big market to the cryptocurrency. 

[Moaz 7239]

Singapore is one of the developed countries in Asia and has a strong economy, and when the most important bank in Singapore issues a report on the importance of Bitcoin and cryptocurrencies, this is good news for crypto users in the world, and I think that many banks in the world will enter the digital currency market soon

[Mwangi 5611]

Its a bitcoin kind of a currency ? yes so thats why countries have to make sure they are careful about it, this is to really define the kind of a market they are getting into or atleast their citizens, its all matters of control of the unknown or atleast the study of how to really redefine it

[Calvinpriva 17296]

Good news, it is good to see banks are now adopting cryptocurrencies. But i heard about few banks they rejected crypto transactions from exchanges that allow withdrawing to banks. So i don't know if they really need to join the crypto market or they just join to do not lose their customers.

[malik6314193 5449]

The biggest opposition of blockchain industry is banks. And now banks are adopting blockchain system. And it will be good for crypto currencies world. 

[MuhammadSh 3067]

There are many banks everyday accept using cryptocurrencies in their financial transactions! and that's really a great step to make this cryptocurrencies world going forward especially when more banks follow this step too! but there are many governments and banks still against this cryptocurrencies project till now and i think that they will adopt using cryptocurrencies in the near future! also we should search more about the source of the volumes which you mentioned in this topic because there are many banks cheat in this issue..

[koussai999 1986]

It is certain that banks will make more investments in cryptocurrencies now and in the future. I believe that millions and billions of dollars will enter the market for investment in cryptocurrencies in the future.

[Zaino34 0]

The conflict will not exist between banks and digital currencies in the future. The dependence of banks and companies on digital currencies will increase, and this news is one of the evidence for that because the advantages of cryptocurrencies are many and banks can take advantage of these features

[Nihar Hd 3]

It is certain that banks will invest more in cryptocurrencies now and in the future. I believe that billions of dollars will enter the market in the future to invest in cryptocurrencies.

[rekter 8129]

I would be willing to bet money that they will try to ban Bitcoin once again after they realise that their own blockchains are can't compete with permissionless blockchains. But before that they might try to implement strict travel rules with cryptos banning all usage of mixers. After this doesn't work they will try to ban permissionless cryptos all together.

[Omar Ommeish 4872]

There are many banks that have started to deal with cryptocurrencies, especially Bitcoin, because they see it as the currency of the future, which will have a great impact on society.

[lharost 1526]

Most of these banks and other organizations in countries now are saying good things about Bitcoin just because bitcoin price surged in these past months and they are only trying to get a piece of the profit that will come from investors that are interested in crypto, my question is where were all these countless organizations when bitcoin was in bear market and at 3-4k$ range for months?

You did not hear much of a good saying about crypto from them when bitcoin was under a lot of selling pressure, I guess what I'm saying is these words does not matter at all because they will change their words depending on the situation and when/if bitcoin goes down again they will either go silent or once again they will start talking about negative things that crypto brings to the table.

[Mella 3680]

This is important as banks are nkow buying Crypto and they rise the price and make us more money. Banks are safe and help crypto after understandign the technology is better than what they have. I hope that banks will adopt all crypto and offer them to the customers. Singapore is rich country and it means a lot for crypto.

[Whited35 15285]

7 hours ago, Omar Ommeish said:

There are many banks that have started to deal with cryptocurrencies, especially Bitcoin, because they see it as the currency of the future, which will have a great impact on society.

I am pretty much sure, one day banks will be fully accepting cryptocurrency to meet the demands of customers. Price volatility of the cryptocurrency is the most annoyed thing for the banks . Not only the case of Singapore, I was getting a news from Russia like, some Russian banks were offering loans with cryptocurrencies as collateral.These are really the good things for the mass adoption of cryptocurrency. 

[Izeal 4404]

This is very good news for all the investor of the cryptocurrency in the Singapore. Because Singapore one of the developed Asian country. But within the next 5-10 years all the country will accept the cryptocurrency as transaction method because it is the demand of this modern era.

[CryptoDemon 370]

On 8/19/2020 at 2:26 PM, BrolySSJ said:

DBS is one of the top banks in Singapore and they have an estimated value of $234 billion. On monday they released a report saying that bitcoin and other crypto are extremely innovative and that they have been a particular benefit to supply chains and cross-border banking. Asia is at the frontline of the crypto market with 70% of the bitcoin hashrate being accounted for in China alone - arguably the largest mining system for bitcoin. 

 

DBS said that the volume of bitcoin that is being traded has increased from $18 million per day in 2013 to $507 million in 2019. This is a tremendous increase and hopefully more banks start to take this more seriously and consider joining the crypto market soon. 

 

The source for the article is below:

https://cryptoslate.com/singapore-bank-says-bitcoin-crypto-is-no-more-the-wild-west/

It is really good that Singapore already legalize crypto currency on their country and I am really happy that Singaporean now can earn using crypto currency like us. I hope that there are some countries that can legalize crypto currency too.

[percare 3192]

It is important move that is similar to other events we have seen as banks are trying to enter the cryptocurrency market and perhaps get a share from the fees involved. I hear they will offer trading and investment for their customers and other banks as JP Morgan are getting in. Very bullish news.

[Digital 387]

On 8/19/2020 at 7:26 AM, BrolySSJ said:

DBS is one of the top banks in Singapore and they have an estimated value of $234 billion. On monday they released a report saying that bitcoin and other crypto are extremely innovative and that they have been a particular benefit to supply chains and cross-border banking. Asia is at the frontline of the crypto market with 70% of the bitcoin hashrate being accounted for in China alone - arguably the largest mining system for bitcoin. 

 

DBS said that the volume of bitcoin that is being traded has increased from $18 million per day in 2013 to $507 million in 2019. This is a tremendous increase and hopefully more banks start to take this more seriously and consider joining the crypto market soon. 

 

The source for the article is below:

https://cryptoslate.com/singapore-bank-says-bitcoin-crypto-is-no-more-the-wild-west/

Very soon more banks will get to collaborate with crypto currency industry because the rate of traded crypto currency is massively increasing tremendously at every exchange platform.

[Moira Jaa 83]

Singapore can now earn using cryptocurrencies like us.  I hope there are some countries that can also legalize cryptocurrency.  So I don’t know if they will have to join the crypto market in the true sense or they will just join so as not to lose the customer.

[sarahmoses202020 251]

On 8/19/2020 at 7:26 AM, BrolySSJ said:

DBS is one of the top banks in Singapore and they have an estimated value of $234 billion. On monday they released a report saying that bitcoin and other crypto are extremely innovative and that they have been a particular benefit to supply chains and cross-border banking. Asia is at the frontline of the crypto market with 70% of the bitcoin hashrate being accounted for in China alone - arguably the largest mining system for bitcoin. 

 

DBS said that the volume of bitcoin that is being traded has increased from $18 million per day in 2013 to $507 million in 2019. This is a tremendous increase and hopefully more banks start to take this more seriously and consider joining the crypto market soon. 

 

The source for the article is below:

https://cryptoslate.com/singapore-bank-says-bitcoin-crypto-is-no-more-the-wild-west/

The crypto market is increasing everyday despite the fact that Government have not approved it yet. Although there are countries whose government dont allow them to trade crypto but the value keeps increasing. Banks have realised the no of customers they are losing and now start to invest in crypto. This is a good development because they will allow us to buy crypto easily.

[khan22 3478]

Step by step banks are trying to involve in the crypto market and so many peoples will try to involve in the market becasue this is the future currency and all the world will use this currency one day becasue its future is so much bright and good and soon it is going to be legal in all over the world.

[Captain Karim 0]

In the recent period, many banks have been racing to enter the field of cryptocurrencies and provide the service of preserving encrypted assets within the bank account. There is nothing wrong with providing these services because some believe that bearing responsibility for their private keys is very difficult and afraid of losing their money and thus preferring to do The bank does all this work for him.

[TimopheyKa 3900]

Yes, I agree too! As we can see, cryptocurrency is very actively developing in our time, and I think that it is expected, oddly enough, very great prospects! I think many banks should really pay attention to cryptocurrency. But speaking of Europe, things are very good there, and they are developing very well!

[Rosarvx 965]

cryptocurrencies world going forward especially when more banks follow this step too, and companies on digital currencies will increase