ChainCatcher news, according to Jinshi reports, DBS Bank stated that the market expects the Federal Reserve to implement a series of rate cuts, but aggressive market pricing may lead to disappointment and ultimately trigger panic.Economist Taimur Baig wrote in a report: "An inflation rate below 3% and a policy rate above 5% often struggle to coexist, so it is necessary to implement some monetary easing. However, the extent of the rate cuts reflected by the market seems excessive. For the yield curve to reflect a scenario where rate cuts exceed 200 basis points over the next 16 months, the U.S. economy must weaken significantly, and inflation must fall below 2%, which is unlikely to happen." DBS Bank's fundamental view is that by the end of 2025, the Federal Reserve will cut rates by 150 basis points, with a 25 basis point cut expected this week.

ChainCatcher news, according to Cointelegraph, DBS Bank will launch over-the-counter (OTC) crypto options trading and structured notes for institutional clients, continuing to offer financial products linked to Bitcoin and Ethereum. Although DBS Bank did not disclose specific dates, the bank stated that the issuance of related cryptocurrency products will begin sometime in the fourth quarter of 2024.

ChainCatcher news, according to Pymnts, DBS Bank and Ant International have launched a pilot for a blockchain-based financial and liquidity management solution aimed at helping Ant International reduce the settlement time for intra-group transactions from days to seconds.The solution, known as DBS Treasury Tokens, will enable Ant International, a provider of digital payment and financial services, to achieve instant, multi-currency treasury and liquidity management for its entities across multiple markets using digital forms on the blockchain licensed by DBS Bank.Additionally, by combining DBS Bank's licensed blockchain with Ant International's liquidity management solution Whale, Ant International will be able to seamlessly manage its intra-group liquidity.

ChainCatcher news, according to Cointelegraph, multinational bank and financial services company DBS Bank has partnered with digital payment provider Ant International to launch a new blockchain-based funding and liquidity management solution. DBS Bank announced today the pilot launch of the DBS Treasury Tokens pilot project, where Ant International will use the tokens for instant multi-currency fund management and liquidity management. The new DBS treasury tokens that Ant International will use exist on a blockchain licensed by DBS Bank, available for use by its entities in multiple markets.DBS Bank introduced that its licensed blockchain is compatible with the Ethereum Virtual Machine (EVM) and is integrated with the bank's core payment engine. This development enhances the system's scalability and interoperability with various industry payment infrastructures connected to DBS Bank. The bank also noted that the blockchain has been integrated with Ant International's fund management platform, Whale. This allows the company to manage its internal liquidity seamlessly, and DBS Bank believes this can optimize workflows and visibility. In addition to blockchain technology, Ant Financial's Whale platform also leverages artificial intelligence and cryptography to enhance the transparency and efficiency of fund transfers between bank accounts.

ChainCatcher news, DBS Bank's senior foreign exchange strategist Philip Wee pointed out that although the futures market sees a probability of over 100% for a Federal Reserve rate cut in September, the twists and turns of the U.S. presidential election and the unwinding of yen carry trades have clouded the outlook for the dollar. Additionally, against the backdrop of a tech stock sell-off, the yen and Swiss franc have become safe-haven currencies. At the July FOMC meeting, the Federal Reserve should keep the door open for a rate cut but avoid supporting market bets on a September cut. After the U.S. unemployment rate data on August 2 and the CPI data on August 14, the Federal Reserve may provide guidance on timing at the Jackson Hole symposium.

ChainCatcher news, according to Bitcoin.com, DBS Bank recently stated that the trading value of digital payment tokens on its digital exchange has significantly increased in the first five months of 2024.DBS Bank elaborated: "Compared to the same period in 2023, the value of digital payment tokens traded on the DBS digital exchange (Ddex) in the first five months of this year has nearly doubled in Singapore dollars, the number of active trading customers has increased by 36%, and the digital assets custodied by DBS Bank (in Singapore dollars) have surged by over 80%."DBS Bank explained that this significant growth is attributed to a large influx of deposits from customers seeking secure, bank-grade trading and custodial digital asset platforms. Meanwhile, the total market capitalization of cryptocurrencies has grown by about 50% during the same period.

ChainCatcher news, according to Ledger Insights, the Singapore project Partior has completed a proof of concept for payment versus payment (PvP) settlement, with participants including JP Morgan, DBS Bank, and Mizuho Bank.PvP settlement eliminates settlement risk by simultaneously exchanging two currencies. Partior's solution supports 24/7 real-time atomic settlement and is planned to be launched later this year.

ChainCatcher news, according to The Block, Paxos has announced that it has received full approval from the Monetary Authority of Singapore (MAS), allowing its Singapore entity Paxos Digital Singapore Pte. Ltd. to provide digital payment token services as a major payment institution. Paxos will be able to issue stablecoins under the upcoming stablecoin framework by MAS. DBS Bank will become Paxos's partner for cash management and stablecoin reserve custody.It is reported that Paxos had previously been authorized to issue stablecoins in the United States and the UAE. So far, a total of 19 crypto companies have obtained the Major Payment Institution (MPI) license in Singapore, including Paxos, Blockchain.com, Circle, and Coinbase.

ChainCatcher news, according to Decrypt, a spokesperson for Singapore's DBS Bank denied via email to Decrypt that the bank "holds 173,700 ETH," stating that DBS Bank does not hold the aforementioned assets.Nansen analyst Edward Wilson stated, "Nansen has confirmed through multiple independent sources that DBS Bank possesses the private keys to this wallet, and these assets are likely part of its custody solution." However, when asked if the wallet is used by the bank to hold funds for its crypto clients, the spokesperson declined to comment.ChainCatcher previously reported that on-chain analytics platform Nansen stated it has confirmed that a "whale" holding 173,700 ETH belongs to DBS Bank, which had total assets of SGD 739 billion as of December 31, 2023. This address has earned over $200 million through holding ETH.

ChainCatcher news, on-chain analytics platform Nansen posted on platform X that it has confirmed a "ETH whale" holding 173,700 ETH worth $650 million is DBS Bank, the largest bank in Singapore.As of December 31, 2023, the total assets reached SGD 739 billion (approximately USD 546.86 billion). This address has earned over $200 million by holding ETH.

ChainCatcher news, Singapore's largest bank DBS Bank today launched the metaverse virtual space "DBS BetterWorld" in The Sandbox, which is expected to open to the public by the end of this year.DBS BetterWorld is an adventure game themed around reducing food waste, and this metaverse space is developed on a 3x3 LAND that DBS Bank purchased in The Sandbox last year.DBS Bank stated that it will launch BetterWorld once Alpha Season 4 of The Sandbox is released later this year.

ChainCatcher news, UOB economist Lee Sue Ann stated that the development of the U.S. banking sector has drawn effective market attention to the outlook, complicating the Federal Reserve's fight against inflation as concerns about prices are mixed with uncertainty in the financial markets. If our basic expectation that the U.S. financial sector does not bring systemic effects remains valid, there is reason to expect the Federal Reserve to continue its fight against inflation and advance its rate hike cycle.Therefore, we will continue to see the Federal Reserve raise rates by 25 basis points to 5.00-5.25% at the May meeting, with no rate cuts expected this year. (Jin10)

ChainCatcher news, DBS Bank stated that the trading volume of Bitcoin on the DBS Digital Exchange increased by 80% in 2022.Previously, the CEO of DBS Bank mentioned that the revenue from cryptocurrency exchanges is expected to grow by 60%-70% this year. (source link)

Chain Catcher News, Singapore's DBS Bank announced on Friday the launch of cryptocurrency trading on DBS Digital Bank, allowing the bank's wealth clients to trade cryptocurrencies on the DBS Digital Exchange (DDEx).Approximately 100,000 DBS Treasures wealth clients in Singapore will be able to trade four cryptocurrencies on DDEx, including BTC, BCH, ETH, and XRP, with a minimum investment amount of $500. (Source link)