The service operates via Singapore’s PayNow and FAST payment networks, Reuters reports.
“DBS has been actively fostering a responsible and innovative digital asset ecosystem in Singapore for several years now,” said Evy Theunis, Head of Digital Assets, Institutional Banking Group at DBS. “Working with OKX deepens the bank’s wide-ranging involvement in this space.”
The integration follows OKX’s September 2023 acquisition of a payments license from the Monetary Authority of Singapore — enabling digital payment token and cross-border money transfer services in the region.
Bitcoin prices have exceeded US$90,000 amid increased cryptocurrency trading activity, marking a 30% gain this month. The surge coincides with market expectations of potential regulatory changes in the US.
Singapore continues to establish itself as a key cryptocurrency hub in Asia, with traditional banks increasingly engaging with digital asset services.
This partnership between a major bank and crypto exchange signals growing integration between traditional finance and digital assets in regulated Asian markets.