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Binance Announces Support for Terra Classic Tax2Gas Network Upgrade

Mark Brennan
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Binance Announces Support for Terra Classic Tax2Gas Network Upgrade

Binance, the world’s largest exchange by trading volume, announces it will support the Terra Classic ecosystem in its planned Tax2Gas upgrade.

Per the announcement, Binance will suspend all deposits and withdrawals pertaining to the Terra Luna Classic (LUNC) token amid the update. The exchange would temporarily halt these transactions by September 18 at 10.15 AM (UTC) to support the upgrade.

The leading exchange also pledged to provide all technical support for its users during the upgrade to enhance a smooth transition. Binance noted it would reopen withdrawals and deposits of the LUNC token on its platform when the Terra network is deemed stable after the upgrade.

Notably, Binance has upheld a culture of supporting tokens listed on its platform during upgrades and hard forks. Its latest effort was evident in the Cardano hard fork on September 1. The Chang upgrade saw the Cardano ecosystem enter the community-governed Voltaire era.

Terra to Debut Automated Tax Calculation

The Wednesday upgrade to v3.1.5 will see the Terra Classic ecosystem switch to an automated tax calculation method. Per Terra’s StakeBin platform, the upgrade will go live at block height 19850000 by 11:27 AM (UTC).

The Tax2Gas upgrade aims to boost the LUNC ecosystem’s tax-handling process. Before now, decentralized application developers manually calculated taxes on the network, leading to several complications.

However, developer Genuine Labs proposed averting this complication by embedding tax calculation with gas fees. This aims to remove the rigorous process of labor-intensive tax calculations for Dapp developers and improve the efficiency and security of the Terra Luna Classic network.

The Genuine Labs proposal was put to voting, and the community fancied the automated tax process. Per Validator Info, the #12120-taged Tax2Gas initiative garnered support from validators and delegates in the network, with almost all participants voting for the idea. Eventually, the proposal passed, and its implementation is set for today.

Terra Classic Ramps up Effort to Boost Ecosystem

The Terra Classic ecosystem has ramped up efforts to revive its ecosystem through initiative implementations. The community is eager to draw positive sentiments and traction to the network.

Following the Tax2Gas proposal, a new initiative has been put up for vote to further bolster the network’s security and efficiency. The community is voting to restore the maximum number of validators in the LUNC ecosystem to 110. A recent SDK update saw developers use an outdated module, which reduced the number of validators.

LUNC remained almost flat hours to the Tax2Gas upgrade. At the time of writing, it was trading at $0.00008213, up less than 1% in the past 24 hours.

Midnight To Launch NIGHT as Cardano Native Token

Sam Wisdom Raphael
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Midnight To Launch NIGHT as Cardano Native Token

Cardano is gearing up for an influx of users following the release of the Midnight Nightpaper, which introduces a new privacy-focused chain.

Notably, the Midnight team released the much-awaited Midnight whitepaper, dubbed the “Nightpaper” yesterday. One of the most notable revelations in the Nightpaper is the upcoming launch of the NIGHT token, which will serve as a Cardano native asset (CNA).

NIGHT Token Utility

As detailed in the Nightpaper, the NIGHT token plays a central role in Midnight’s ecosystem, launching initially as a native asset on Cardano. Unlike most networks where a single token is used for both transactions and rewards, Midnight employs a dual-token system. 

NIGHT serves as the governance token and is unshielded, providing transparency for network participants. It also provides rewards for block producers and supports consensus participation on the network. In addition to its fixed supply, the token will be deflationary.

Paired with NIGHT is a second token, DUST, which acts as the transaction resource on the network. Unlike traditional gas tokens, DUST is shielded, which means that while it enables transaction processing, it conceals user data. 

This is essential for Midnight’s privacy-focused applications, especially in regulated industries like finance, where both transparency and privacy are needed. DUST also decays over time, as its utility focuses more as an energy-like resource rather than a store of value.

Cardano Community Reactions

The release of the Nightpaper has triggered bullish reactions within the Cardano ecosystem, with certain community experts predicting a surge in network activity. 

Philip DiSarro, the CEO of Anastasia Labs, stated that the launch of NIGHT could potentially bring in more users than any dApp previously deployed on Cardano. 

He emphasized that this token, along with Midnight’s privacy-focused infrastructure, could drive more volume to Cardano than all the projects introduced since the network welcomed the Alonzo hard fork.

More from the Nightpaper

Beyond the token utility, the Nightpaper also reveals several important aspects of the Midnight blockchain’s design. Midnight introduces a next-generation architecture focused on safeguarding both user and business metadata. 

It employs zero-knowledge proofs (ZK proofs) to allow organizations to protect sensitive information while still participating in decentralized ecosystems. This ensures that users and businesses can verify transactions without revealing confidential data.

For developers, Midnight simplifies blockchain development by utilizing TypeScript, one of the most popular programming languages. This will help to reduce the complexity of creating smart contracts and integrating blockchain systems. 

Additionally, Midnight supports both layer 1 and layer 2 chains, making it versatile enough to work with existing systems and other blockchain platforms, such as Ethereum and Cardano. 

This interoperability is important for Midnight’s appeal, as it enables businesses to leverage their existing infrastructure while gaining the benefits of data protection and scalability.

Midnight Roadmap

The Midnight Nightpaper also sets out the project’s roadmap. Per the roadmap, the Midnight project is expected to move from the Devnet phase to the Testnet phase. After the successful Testnet, the team will launch the Mainnet.

Cardano Midnight Roadmap
Cardano Midnight Roadmap

Notably, Midnight entered its Devnet phase in November 2023, an essential step in its development. This early testing stage allows developers to explore the platform’s capabilities, particularly its privacy features. 

The project selected over 100 developers, referred to as “Midnight Pioneers,” to participate in the Devnet and build privacy-oriented applications. These applications will be crucial in proving Midnight’s ability to handle sensitive data while maintaining compliance with regulatory frameworks.

The Devnet launch also highlighted Midnight’s role as a sidechain to Cardano, which means it benefits from Cardano’s security and infrastructure while offering a distinct privacy framework.

Here are Returns on $1,000 Invested in Shiba Inu if SHIB Rallies 1,000%, 10,000% or 100,000%

Sam Wisdom Raphael
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Here are Returns on $1,000 Invested in Shiba Inu if SHIB Rallies 1,000%, 10,000% or 100,000%

Shiba Inu investors could see massive returns on a $1,000 investment if SHIB manages to rally 1,000%, 10,000% or 100,000%. 

For context, Shiba Inu rallied by a massive 45,131% in January 2021 alone. A CoinGecko report from last May put some useful context to this rally. According to the report, a $12 investment in SHIB yielded $1 million in 2021, representing an 8,333,233% increase.

Despite Shiba Inu’s drop from its all-time high of $0.00008845 in October 2021, data from market tracker CoinMarketCap suggests that the dog-themed token is currently up 1,028,241% from its opening price in August 2020.

However, over the past few months, Shiba Inu has been in bearish territory with the rest of the crypto market. Nonetheless, this has not impacted investor sentiments. Data indicates that 80% of Shiba Inu community members on CoinMarketCap are bullish on SHIB. 

Shiba Inu Community Sentiments
Shiba Inu Community Sentiments

Notably, multiple analysts have predicted an imminent breakout for SHIB, with one recently pointing to its Bollinger Bands contraction. Meanwhile, trader Dexter suggested that Shiba Inu could be well on its way to reaching the $0.00015 price peak.

Yield on $1,000 if SHIB Rises 1,000%, 10,000%, or 100,000%

Despite the positive sentiments, some have argued that SHIB is not capable of repeating its 2021 rally. However, if Shiba Inu captures only a fraction of this previous uptrend, it could yield significant gains for investors. We recently analyzed how much a $1,000 would yield at varying rates of increase.

Notably, SHIB currently trades for $0.0000138 at the reporting time. At this value, $1,000 invested in Shiba Inu would procure 72,463,768 tokens. Interestingly, a 1,000% increase in price would put Shiba Inu’s price at $0.0001518. This 1,000% rise would bring the $1,000 investment to $11,000.

Meanwhile, if Shiba Inu spikes by a more massive 10,000% rate, its price would rise to $0.001393. Notably, such a rally would take the $1,000 initial investment to $100,999, bringing in a yield of nearly $100,000.

For those looking out for higher gains, a 100,000% rally could yield something much more substantial. For context, if Shiba Inu increases by this 100,000% rate, its price would skyrocket to $0.01381, effectively erasing three leading zeros. At this price, the $1,000 investment would rise to $1,000,999 ($1M), taking it to the millionaire club.

XRP Forms One of the Most Bullish Macro Setups as Williams %R Nears Historic Levels

Sam Wisdom Raphael
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XRP Forms One of the Most Bullish Macro Setups as Williams %R Nears Historic Levels

Market analyst Mikybull suggests XRP is currently displaying one of its most promising technical setups in years.

The chartist disclosed this in a recent analysis on X. According to him, a long-term symmetrical triangle pattern has been forming on the 2-month chart, suggesting a potential breakout. 

This is especially relevant as the prominent momentum indicator Williams Percentage Range (Williams %R) approaches historic levels of overbought conditions. This setup is currently setting the groundwork for a price rally from XRP.

XRP Symmetrical Triangle Patterns

The XRP chart currently features a large symmetrical triangle that has been consolidating since April 2021, when XRP dropped from the $1.96 high. This pattern typically represents market indecision. Notably, breakouts often result in massive price movements.

Data from the chart shows a similar symmetrical triangle that formed from December 2013 to February 2017. When XRP broke out from that triangle, it surged over 60,000%, reaching an all-time high above $3.30. 

XRP Symmetrical Triangle and Williams %R
XRP Symmetrical Triangle and Williams %R

Currently, XRP is trading around the $0.58 region. The pattern suggests a strong upward move is possible from this level. A breakout from the top of the triangle could push XRP back towards its previous all-time highs or beyond, depending on the momentum. 

Williams %R Signals Strengthening Momentum

Meanwhile, the Williams %R indicator is also sending bullish signals. Williams %R tracks a crypto asset’s momentum by measuring how close recent prices of the asset are to their highest point over a period of time.

Notably, with XRP, the Williams %R has peaked only two times since 2014. Interestingly, each peak coincided with massive price rallies, especially the one in 2017 when XRP spiked to $3.3. The indicator is again approaching similar levels. This suggests that XRP could be building momentum for a strong move.

XRP Price Outlook Suggests Potential Breakout?

Given the bullish macro setup, the price outlook for XRP is positive in the long term. Mikybull believes this combination of patterns represents one of the most macro setups in years. If the symmetrical triangle breaks to the upside, XRP could enter another long-term bull run. 

Specifically, a breakout could push XRP towards key resistance levels, such as the $1 mark or even higher. Some technical projections suggest that XRP could see targets as high as $10, depending on broader market conditions.

However, it’s essential to remember that symmetrical triangles can break either way. A downside break could send XRP back towards $0.25 or lower, although such a move seems less likely given the current bullish sentiment in the market and the XRP ecosystem.

USDT Stays Steady, Raboo Bulls Dominate As Matic Falls, POLs Migration Appears To Go Unnoticed

Andrew MacGill
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USDT Stays Steady, Raboo Bulls Dominate As Matic Falls, POLs Migration Appears To Go Unnoticed

Tether (USDT) stays rock-solid, while MATIC’s price struggles as it shifts to Polygon (POL). But all eyes are now on Raboo ($RABT), the newcomer everyone’s buzzing about, with predictions of 100x growth this year. Many are wondering if Raboo will spark the next big bull run.

Investors are jumping in thanks to Raboo’s unique SocialFi system, where you can earn passive income, and its smart, AI-powered platform. With so much excitement building, Raboo is quickly becoming the hot new crypto – read on to find out why!

USDT steady as Tether dives into new ventures

Tether is holding strong, with USDT still dominating the market and a whopping $118 billion market cap. Tether just made a bold move, investing $100 million to grab a 9.8% stake in agricultural company Adecoagro.

Plus, they teamed up with TRON and TRM Labs to create the T3 Financial Crime Unit, which has already frozen over $12 million in USDT tied to fraud. This boosts security and trust in USDT. And to top it off, USDT is now live on the Aptos blockchain, bringing super-low fees and better accessibility.

MATIC slips while POL migration quietly gains momentum: What’s next for Polygon?

Polygon’s big shift from MATIC to POL kicked off on September 4th as part of the Polygon 2.0 roadmap. So far, they’ve swapped 6.5 billion MATIC tokens to POL, hitting almost 65% conversion rate—a major step forward.

POL is taking over as the go-to token for gas fees and staking, offering perks like multi-chain staking to boost security. As MATIC phases out, users have time to adjust, but the price dip has some traders feeling uneasy.

Raboo bulls are taking over: The next big thing in SocialFi

Backed by cutting-edge AI, Raboo combines finance and social media, giving users the chance to cash in on their content through its Post-to-Earn model. Plus, with no buy/sell taxes and a smart contract fully audited by SOLIDProof, investors love what Raboo brings to the table.

What makes Raboo the hot new crypto to rally this bull run?

Its SocialFi ecosystem is where you can stake $RABT tokens and earn passive income just by being part of the community. Meanwhile, the team is hard at work on Rabooscan, an AI tool that’s hitting new milestones.

Raboo’s roadmap is packed with exciting plans, including NFTs, hosting token burn events, and securing listings on top exchanges. These moves are all about driving long-term growth and keeping investors happy.

The ongoing presale, now in Stage 5, has already raked in over $2.4 million and the token price is currently at $0.0057, with a 90% price jump already under its belt. Experts are predicting a jaw-dropping 10,000% surge on launch day. With AI, SocialFi, and a killer roadmap, Raboo could be the winner of the next bull run.

Conclusion

Tether remains stable, while MATIC faces challenges with its transition to POL. However investors are shifting their focus to Raboo, with a price jump of 90%, and two key reasons for this shift are Raboo’s unique SocialFi ecosystem, allowing users to earn passive income, and its strong AI-powered platform.

$RABT has all it takes to be the hot new crypto to 100x!

You can participate in the Raboo presale here.

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September’s Hottest Bitcoin Topics: ETF Growth, Bullish Forecasts, and Fed Impact

Albert Brown
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September’s Hottest Bitcoin Topics: ETF Growth, Bullish Forecasts, and Fed Impact

Although the performance of Bitcoin has not been particularly notable this month, there have been some significant discussions about the asset in September.

Pseudonymous X user Rugga recently highlighted a few of this month’s trendy discussions around Bitcoin. Topping his list was the global trend of inflows to Bitcoin ETFs.

He highlighted that over $17 billion has entered the Bitcoin ETF market over the last nine months. According to Rugga, the increasing investments are expected to stabilize Bitcoin’s price, even as volatility persists.

The ETF inflow points to growing confidence in Bitcoin’s future as a digital asset and could act as a buffer against short-term price fluctuations. While the trend of inflows has waned, the overall performance is positive.

As of September 16, the U.S. market saw a daily net inflow of over $12 million despite the $20.8 million drain from Grayscale’s product. This latest inflow for Monday continues the streak of positive flows recorded last week.

Bullish Predictions and Halving Event

Alongside the ETF trend, Bitcoin’s price predictions have become a topic of widespread interest. Rugga pointed out that several analysts now forecast that Bitcoin could reach $130,000 by the end of the year, driven by the halving event in April.

This event traditionally impacts Bitcoin’s price by reducing the supply of new coins. It is seen as a significant catalyst for the projected increase, although there are still less fluctuations months later. 

Industry pundit Mike Alfred recently suggested that when Bitcoin reaches $315,000, the initial purchase price between $56,500 and $58,150 will be insignificant.

He advised investors to focus on accumulating at least 1 Bitcoin, as current prices under $60K will become irrelevant once Bitcoin stabilizes above $300K, offering a potential 5x return.

Influence of U.S. Federal Reserve

Furthermore, economic factors are also expected to play a role in Bitcoin’s trajectory. Per Rugga, the U.S. Federal Reserve’s monetary policy, particularly the potential for interest rate cuts, may push more investors toward high-risk assets like Bitcoin. 

This possible policy shift could align with Bitcoin’s cyclical trends, which have historically mirrored changes in the global money supply. Analysts, including Dennis Liu, have drawn parallels between today’s market conditions and previous bull cycles in 2017 and 2021, which coincided with global money supply expansions.

Ultimately, if economic stabilization occurs following rate cuts, experts forecast Bitcoin reaching $100,000 by 2024 or 2025, with some projections suggesting a high of $200,000 by 2025. Additionally, longer-term predictions indicate that Bitcoin could become a reserve currency within the next decade.

Here’s a Smart Ethereum Trader to Watch with 100% Win Rate

Sam Wisdom Raphael
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Here’s a Smart Ethereum Trader to Watch with 100% Win Rate

Blockchain surveillance platform Lookonchain calls attention to a smart Ethereum trader that so far boasts an impressive 100%-win rate.

Amid the ongoing market uncertainty that has triggered angst among long-term investors, day traders have continued to make profits off the swings that come with volatility. Lookonchain recently spotlighted one such trader in a report on X.

According to the disclosure, since Sept. 2, the trader has turned 4,821 ETH into a staggering 5,690 ETH. This turnout translates to a profit of 869 ETH, equivalent to a massive $2 million, within two weeks. 

The Ethereum trader’s execution of trades started with the sale of 4,821 ETH on Sept. 2 for $2,512 each. This initial transaction set the stage for a series of strategic moves, as he sold these tokens for a total cumulative amount of $12.110 million.

After Ethereum witnessed a price dip two days later, the trader then used these funds to acquire 5,094 ETH at $2,378 each. This move allowed him to procure more ETH for less, securing an additional 273 ETH worth $626,500 as gain.

A Cycle of Ethereum Sales and Purchases

He capitalized on a slight market uptick the next day, selling these ETH for $2,402 each. Afterward, he re-purchased the Ethereum tokens for $2,375 following a market drop, allowing him to secure an additional 58 ETH worth $132,800.

This pattern of selling high and buying low continued for the past two weeks. On Sept. 6, the trader sold 5,263 ETH for $2,397 each. After this, he repurchased the same amount at a lower price of $2,350 on the same day, which led to an addition of 111 ETH ($256.2K). 

His last transaction involved a purchase of 5,690 Ethereum tokens at $2,279 each today. Overall, these transactions, which ran from Sept. 2 to today, saw the trader begin with 4,821 ETH, only to end his trading endeavor with 5,690 ETH. This translates to an addition of 869 ETH.

Notably, the trader has since sold the ETH tokens again, moving out some to another address. Since then, the trader hasn’t made any new purchases, but he holds an impressive $13.1 million in Aave-wrapped USDT, suggesting he might be gearing up for their next big move.

Expert Says When Bitcoin Hits $315K, It Won’t Matter If You Bought at $56K or $58K—Just Hold 1 BTC

Abdulkarim Abdulwahab
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Expert Says When Bitcoin Hits $315K, It Won’t Matter If You Bought at $56K or $58K—Just Hold 1 BTC

An expert predicts that Bitcoin’s future rise to $315K will make current price fluctuations irrelevant, urging investors to hold at least one BTC.

The state of the crypto market has been underwhelming over the last six months, characterized by repeated downturns. Most crypto assets have struggled to sustain an uptrend.

Since setting an all-time high in March, Bitcoin has dropped to $49K. Even though Bitcoin trades at around $60K, those who bought at the March peak are experiencing 20% losses.

Despite these months of lackluster price action, there have been consistent calls suggesting various bullish price targets for Bitcoin. Market participants continue to anticipate a fresh all-time high in the $100K range, but Bitcoin has faced persistent resistance.

With broader market sentiment in “fear mode,” concerned about significant price declines, market commentators with a long-term outlook are encouraging investors to overlook the ongoing fluctuations. In hindsight, they believe that current worries may prove unnecessary as Bitcoin could rise much higher.

It Won’t Matter If You Bought at $56K or $58K When BTC Hits $315K

In a recent post on X, Mike Alfred, a member of the Board of Directors at Eaglebrook Advisors, remarked that when Bitcoin reaches $315,000, it won’t matter whether someone paid $56,500, $57,500, or $58,150 for their initial acquisition. 

Accordingly, Alfred urged the investing public to focus on owning at least 1 Bitcoin and ignore the current price fluctuations. His statement emphasizes that when Bitcoin reaches a stable price beyond $300K in a few years, today’s prices below $60K will seem irrelevant. Investors would be looking at a potential 5x profit from current levels.

Notably, this perspective holds when considering that Bitcoin was valued at $26,500 just a year ago in September. It has appreciated by over 127% in a year and is currently trading above $60,300. Moreover, when observing Bitcoin’s performance on a ten-year scale, the returns are above 97,454,073%.

Selling Bitcoin Now Could Lead to Regret

In a separate discussion, community figure Scott Melker shared a similar sentiment. Melker envisioned a scenario in 2030 where Bitcoin could be worth over a million dollars. He suggested that investors might look back with regret if they sold their Bitcoin at around $50K, only to see its value skyrocket later.

Overall, the popular long-term outlook remains bullish for Bitcoin, with some experts projecting up to $1 million per coin within six years and even $13 million by 2045. However, some top financial pundits remain skeptical about its future, predicting a potential drop to $15K.

Shiba Inu Team Donates to Specialized ALS Hospital in Korea on Charity Tour

Albert Brown
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Shiba Inu Team Donates to Specialized ALS Hospital in Korea on Charity Tour

The Shiba Inu ecosystem team continues to support the community with significant charitable contributions. 

Per Lucie, the Shiba Inu ecosystem team visited and made a notable donation to the Seungil Hope Foundation in Seoul, Korea, as part of the ongoing “Treat Yourself” tour.

This foundation, which is the first specialized ALS hospital in Korea, was the recipient of the donation, reflecting the ecosystem’s longstanding commitment to helping those in need.

The charitable activities are intended to give back and also enhance the relationship between the Shiba Inu community and the ecosystem development team. 

Global Engagement

The “Treat Yourself” tour started in early July in Kyoto, Japan, during the IVS Crypto event, marking the beginning of a global effort to reach SHIB holders and other crypto enthusiasts.

The tour’s objective is to foster stronger ties with the Shiba Inu community through physical engagements across different countries. Each stop on the tour serves to enhance interaction between the ecosystem’s developers and its growing fanbase.

Before the Seoul visit, the most recent destination for the team was Mumbai, India. The trip to India was set to include meetings aimed at expanding the reach of the Shiba Inu project.

Notably, India holds a special place for the project’s lead developer, Shytoshi Kusama, who previously referred to it as his second home. Following the India meetings, the team planned to attend the Blockchain Futuristic Conference (BFC) in Toronto, Canada, which was scheduled for mid-August.

TREAT and Shiba Metaverse

In addition to the tour, Lucie shared exciting updates regarding the future of the Shiba Inu ecosystem. Per the marketing lead, the new token, TREAT, is poised to play a critical role in the ecosystem’s expansion, particularly within the upcoming Shiba metaverse. 

Although specific details remain unclear, TREAT is expected to unlock various functions within the metaverse while potentially extending its use beyond simple transactions. It is rumored to fuel innovation in Shib’s DAO.

Singapore Largest Bank to Launch Bitcoin and Ethereum Options Trading and Structured Notes 

Lele Jima
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Singapore Largest Bank to Launch Bitcoin and Ethereum Options Trading and Structured Notes 

Singapore’s largest bank, DBS Bank, doubles down on crypto as it announces plans to launch structured notes and OTC crypto options trading for institutional clients.  

Starting in the fourth quarter 2024, DBS Bank will offer financial products tied to the prices of Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies by market cap.

Per a press release today, institutional clients seeking exposure to Bitcoin and Ethereum can invest in the assets through DBS’ structured notes and options trading. 

According to a recent GlobalBank report, DBS Bank is the largest bank by asset size in Singapore, with a value of $509.1 billion. 

Options Trading and Structured Notes Defined 

For context, a crypto options contract shields investors from the volatility risks associated with the underlying asset. The contracts’ values are obtained from the assets’ prices, specifically Bitcoin and Ethereum in this case. The contracts allow investors to choose when to buy and sell the assets at predetermined prices. 

Meanwhile, structured notes are debt securities banks issue to their clients. Like crypto options contracts, structured notes’ returns are determined by the prices of their underlying assets. 

Notably, the announcement disclosed that clients could leverage multiple options structures to protect themselves against market volatility plaguing the assets. 

For instance, with the “put option,” DBS customers can sell BTC at a predetermined price and date, irrespective of whether the asset plummets below the stipulated price on the specified date. 

DBS Expands Its Customers’ Exposure to Crypto 

Commenting on the development, Jacky Tai, DBS’ Head of Trading and Structuring, highlighted the significance of the upcoming solution. 

According to Tai, as professional investors increase their digital asset holdings, the crypto options trading and structured notes provide them with new ways to incorporate advanced portfolio management strategies. Additionally, Tai noted that the upcoming service will expand customers’ exposure to the crypto ecosystem. 

It is worth noting that DBS Bank is not a new player in the crypto space. The bank has been providing its clients with access to the emerging industry. 

In 2022, DBS integrated spot crypto trading into its banking app, DBS Digibank. The offering allows accredited wealth investors to trade four cryptocurrencies, Bitcoin, XRP, Ethereum, and Bitcoin Cash, directly from the bank’s native exchange, dubbed DBS Digital Exchange (DDEX). 

Last month, the bank partnered with digital payment provider Ant International on a pilot project that introduced DBS Treasury Tokens on its EVM-compatible blockchain.  

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