DBS Bank is planning to apply for a license to offer cryptocurrency services to its Hong Kong clients.

According to BlockBeats news on August 29th, Pang Huayi, Chairman of DBS China, stated in an interview that "DBS Bank plans to apply for a license to offer cryptocurrency to Hong Kong customers. We expect to obtain a license to sell digital assets, but we do not intend to replicate the ecosystem we have already established in Singapore. In fact, we hope to provide customers in Hong Kong with the opportunity to purchase digital assets through DBS Hong Kong. Currently, we can purchase digital assets through DBS Singapore." "As a very important wealth management bank, we should enable investors to invest in differentiated and innovative assets, which may ultimately become a small part of the investment portfolio, helping us expand the asset categories of the investment portfolio. However, the development of the virtual asset industry is still a long road. This process requires the monetization of digital assets, the visualization of alternative reserve currencies, and the expansion of the use of digital assets in the real economy."