OCBC Bank Mulls Setting Up Crypto Exchange: CEO

Southeast Asia’s second-largest bank is looking into a digital asset exchange to satisfy customer demand.

By Eliza Gkritsi

Nov 19, 2021 at 12:26 p.m. UTC

Updated Nov 19, 2021 at 2:32 p.m. UTC

Eliza Gkritsi

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

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Oversea-Chinese Banking Corporation (OCBC Bank) is mulling creating a crypto exchange, the bank’s CEO Helen Wong said in an interview with Bloomberg Television today.

“We are looking at it and seriously there are some work being done in the bank,” Wong said, adding that the bank wants to address customer needs “in a safe manner.”
At the end of last year, Singapore-based OCBC had $121 billion in assets under management, making it the second-largest bank in Southeast Asia.
OCBC rival DBS launched a crypto exchange in December 2020. DBS Vickers, the bank’s brokerage arm, received a license to offer crypto services from the Monetary Authority of Singapore in October.

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