According to Bloomberg, Singapore's DBS Bank (DBS) will be the first bank to utilize MaxxDigital, a digital asset platform aimed to provide institutions with foreign currency and risk solutions. MaxxDigital was created by Singapore Exchange subsidiary MaxxTrader.

In an interview, Lee Beng Hong, Head of FICC at SGX Group, said their product is a “trusted, stable and robust institutional infrastructure” in a market that is “relatively inefficient and still relatively fragmented”.