DBS Bank Targets Hong Kong With 100 Advisors, Digital Asset Push

DBS Bank, with assets under management exceeding $730 billion by the end of 2024, has set its sights on the Hong Kong market, demonstrating a bullish stance despite global financial uncertainties. The bank plans to bolster its presence by adding 100 wealth management advisors over the next three years and establishing a new wealth center. This strategic move underscores DBS Bank's confidence in Hong Kong's potential, particularly in the realms of digital assets and cross-border wealth management.

DBS Bank is not only seeking a cryptocurrency service license in Hong Kong but also aims to capitalize on the region's favorable regulatory environment. The bank intends to offer customers a digital asset allocation channel, including stablecoins, which are increasingly seen as ideal tools for cross-border asset allocation, especially for high-net-worth clients.

Hong Kong's regulatory policies on stablecoins and digital assets are opening new avenues for financial institutions. The region's potential as a "RMB-denominated asset hub on the blockchain" is gaining traction, providing banks with innovative opportunities to serve their clients.

BiyaPay, a platform that supports USDT settlements across more than 30 fiat currencies, including USD, HKD, and SGD, offers fast and secure international remittance services. Users can transfer USDT to DBS Bank via BiyaPay, facilitating convenient participation in global asset allocation. Whether the need is for digital asset management or traditional wealth management, BiyaPay provides flexible payment and investment services, aligning with DBS Bank's strategic initiatives in the Hong Kong market.