DBS, Singapore's largest bank, is expanding its services for Russian clients by hiring client advisors from Swiss banks, including Credit Suisse and Julius Baer. With a minimum asset requirement of USD 20 million, DBS has become a key player for Russian clients in Asia, capitalizing on higher fees and a more lenient regulatory environment compared to Swiss banks, which face stricter sanctions. As a result, over one billion dollars in Russian assets have reportedly shifted to DBS since the onset of the Ukraine conflict.
Crypto markets are surging, driven by optimism surrounding the new US administration's pro-crypto policies, with Bitcoin reaching an all-time high of over $93,000. Asia, particularly Hong Kong and Singapore, is poised to benefit from this momentum, with increased licensing and trading activity in digital assets. However, some experts remain skeptical, viewing crypto as a speculative trade rather than a stable investment.
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