First, DBS And Now UOB?
3 Feb 2021 — First it was DBS and now UOB? Two of the largest Southeast Asian banks by total assets have been making #digitalassets ‘noise’, rising above and turning it into surprising reality.
It all started when DBS accidentally leaked news of its foray into digital assets in Oct 2020. Six weeks later, the bank made an official announcement to launch its first digital asset exchange.
UOB first publicly posted the position of VP for crypto security administration in Dec 2020, of what it seems appears to be related to cryptography for developing banking security solutions.
Fast forward 2 months later, ecxx.com Global announced yesterday that the digital securities exchange is partnering with UOB Kay Hian, the stockbroking arm of UOB, to bring in deep tech startups to their network and provide them an opportunity to list and raise funds through Securitiy Token Offerings #STO, while leveraging UOB Kay Hian’s pool of investors to market and distribute security tokens to potential investors.
ECXX is currently in the Monetary Authority of Singapore (MAS) Fintech Sandbox Express* under the Recognised Market Operator (RMO) regime.