SINGAPORE, Nov 18 Reuters Cryptocurrency exchange OKX said on Monday it would offer instant Singapore dollardenominated deposits and withdrawals to customers in the citystate, taking a step toward deeper integration with Singapore39;s traditional financial system as trading and interest in cryptocurrencies surge.

The funds transfer service will be facilitated by Singapore39;s biggest bank DBS Group and done via the country39;s PayNow and Fast and Secure Transfers FAST payment services, OKX said in a statement.

In an emailed comment to Reuters, Evy Theunis, head of digital assets, institutional banking group at DBS said DBS has been actively fostering a responsible and innovative digital asset ecosystem in Singapore for several years now. Working with OKX deepens the bank39;s wideranging involvement in this space.

Interest in cryptocurrencies has surged following Donald Trump39;s U.S. presidential election victory, on the view that friendlier regulation under his administration could usher in a new boom for all corners of the asset class.

That has sent bitcoin on a tear, with the world39;s largest cryptocurrency surging above 90,000 for the first time on record and gaining some 30 for the month thus far.

OKX39;s Singapore subsidiary had in September received a payments licence from the Monetary Authority of Singapore, allowing it to provide digital payment token and crossborder money transfer services in Singapore, which has emerged as a centre for crypto in Asia in…