In today's digital age, cryptocurrency has become a hot topic in the financial sector. As a leading financial institution, Singapore's DBS Bank recently announced that it will start trading Bitcoin and other cryptocurrencies, which has attracted widespread attention and heated discussions in the industry. This move will not only have a far-reaching impact on the financial industry, but will also change people's perception of traditional financial transactions. This article will explore the background, significance and impact of Singapore's DBS Bank's involvement in cryptocurrency trading, and lead readers to explore the future development of this emerging field.

Singapore's DBS Bank's decision can be said to be in line with the trend. As the cryptocurrency market continues to grow and become more popular, more and more financial institutions are beginning to realize its potential and value. As a forward-looking financial institution, Singapore's DBS Bank chose to follow the trend and start cryptocurrency trading services, not only to seize market opportunities, but also to meet the diverse financial needs of customers. This move will bring new growth points to the banking business, and also provide customers with more convenient and diversified investment options.

With Singapore's DBS Bank joining the ranks of cryptocurrency trading, it will surely set off a new financial storm. The development of cryptocurrency trading will inject more vitality into the financial market and promote the innovation and development of financial technology. At the same time, cryptocurrency trading will also bring more opportunities and choices to investors, helping to build a more open and inclusive financial ecosystem. It can be foreseen that this move by Singapore's DBS Bank will have a profound impact on the entire financial industry and lead a new era of cryptocurrency trading.

However, it is worth noting that cryptocurrency trading also has certain risks and challenges. Due to its high market volatility and imperfect supervision, investors need to be cautious and rational when participating in cryptocurrency trading. As a member of a financial institution, Singapore's DBS Bank will shoulder more responsibilities and obligations, and needs to strengthen risk management and monitoring to ensure the safety of customer assets and the stability of transactions. Only under the premise of good risk control can cryptocurrency trading better create value for investors and bring more vitality to the financial market.

In general, Singapore's DBS Bank's move to trade Bitcoin and other cryptocurrencies marks a major change in the financial industry. This is not only a subversion of the traditional financial model, but also an inevitable trend in the development of financial technology. In the future development, Singapore's DBS Bank will continue to lead industry innovation, promote the development of the financial industry, and provide customers with better and more diversified financial services. The vigorous development of cryptocurrency trading is bound to bring new opportunities and challenges to the financial industry. Let us wait and see and witness the arrival of this historic moment together.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

On December 10, DBS Bank, Singapore's largest commercial bank, announced the official launch of the digital trading platform DBS Digital Exchange, which will start trading next week.

According to Piyush Gupta, CEO of DBS Group, DBS supports fiat currencies including the US dollar, Singapore dollar, Hong Kong dollar and Japanese yen. The DBS digital currency trading platform will also allow small and medium-sized enterprises and large companies to issue security tokens.

In addition, the DBS digital currency trading platform will support four major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH) and Ethereum Classic (ETC).

DBS Bank stated in its prospectus that digital assets will play a key role in the global economy. DBS Bank pointed out that its upcoming crypto services will provide "obvious advantages, such as ensuring the security of institutions."

The document stated that the upcoming DBS digital currency trading platform is also designed to provide strong measures to prevent fraudulent activities and strictly comply with anti-money laundering and anti-terrorist financing regulations.

Previously, on October 27, DBS Bank announced on its official website that it would launch a digital trading platform, DBS Digital
Exchange, which would provide legal currency (SGD, HKD, JPY, USD) trading services for four digital currencies, BTC, BCH, ETH and XRP. But then, DBS Bank's official website removed the relevant information page about the digital trading platform. A spokesperson for DBS Bank later said that the bank's digital currency trading platform plan is still under development and has not yet been approved by the regulatory authorities. No further announcements will be made before approval.

The Research Institute believes that the fact that DBS Bank launched a digital trading platform and was removed from the shelves shows that Singapore has strict supervision and it is not easy to launch related businesses. In a strict regulatory environment, DBS Bank finally obtained the qualification to launch the platform. This tortuous process shows that DBS Bank has a more robust business model that can meet Singapore's supervision and set an example for banks to launch digital asset transactions.

Huobi Research Institute believes that in the development of the blockchain industry, it has always been difficult to locate the attributes of digital assets. However, with the continuous intervention of traditional finance, the positioning of digital assets has become clearer and clearer. Digital assets are investable virtual alternative assets, and tokens issued with the help of ERC20 and other protocols should be defined according to their functions. For example, STO assets should belong to stocks, and debt tokens should belong to bonds. DBS Bank launched a cryptocurrency trading platform to promote the expansion of industry consensus.

BTC shrank and traded sideways during the day, and continued to fluctuate in a triangle

According to the data of Huobi trading platform, after a slight increase in the morning, it fell slightly again during the day and traded sideways with a slight increase in volume at the 18400 line. At the one-hour level, BTC's previous decline was supported at the 17930 line, and then continued to fluctuate in a triangle. The two breaks above the 18500 line were resisted by the short side. At the daily level, BTC rose slightly today. In the evening, continue to pay attention to the changes in trading volume and the breakthrough of 18550 above and the support of 18200 below.

According to the data of Huobi trading platform, ETH continued to decline during the day, was supported at the 560 line, and then began to rise, up to 568USDT. At the one-hour level, it has basically recovered to 1/2 of the previous downward trend. If it can continue to break through the resistance position of 570 on the upper edge, it may continue to rise for a while. At the daily level, ETH ushered in 4 consecutive negatives today, basically reaching 1/3 of the previous upward trend. Continue to pay attention to the changes in trading volume and the support of 560 below in the evening.

In terms of contracts, Huobi contract big data shows that BTC contract holdings have dropped slightly, contract trading volume has increased slightly, and the contract market is active. The basis of delivery contracts has dropped slightly, and the funding rate of perpetual contracts is relatively stable.

ETH contract holdings have dropped slightly, contract trading volume has increased slightly, and the contract market is active. The basis of delivery contracts has dropped slightly, and the funding rate of perpetual contracts is relatively stable. USDT is quoted at 6.45 yuan in the OTC market of Huobi Global Station.

According to the data monitoring of Huobi Research Institute, today's DeFi total locked volume (TVL) has dropped slightly to 17.22 billion US dollars, and the real locked volume has dropped slightly to 11.54 billion US dollars. Among them, the head projects have not changed much. Today's total Defi transaction volume fell slightly to US$529 million, and the top projects did not change much.