DBS has launched a new service, DBS SecureFX, enabling small and medium-sized enterprises (SMEs) to lock in foreign exchange rates up to one month in advance. This service, a first for a Singapore bank, allows SMEs to secure rates for up to US$1m across five currency pairs without requiring credit lines or incurring additional costs. The initiative is part of DBS’ efforts to support SMEs as they expand into global markets.
The introduction of DBS SecureFX comes as SMEs increasingly engage in cross-border transactions. According to DBS’ Business Pulse Check Survey, 70% of SMEs plan to allocate capital towards regionalisation. In 2024, over 80% of SME customers conducted foreign exchange transactions for cross-border payments. With the recent spike in volatility for currencies like the Euro, Japanese Yen, and British Pound, DBS SecureFX offers a solution for managing cash flow and foreign exchange risks.
Eileen Chia, Regional Head of Corporate Advisory, Global Financial Markets at DBS, emphasised the bank’s commitment to supporting SMEs: “SMEs form the bedrock of Singapore’s economy and contribute around half of our country’s GDP. As a purpose-driven bank with our roots as the Development Bank of Singapore, we are committed to supporting our SMEs as they expand into regional markets to capture new opportunities across Asia.”
DBS SecureFX is currently available to SME and selected corporate customers in Singapore through the DBS IDEAL platform, with plans to extend the service to other corporate customers. The bank has been recognised for its innovative approach to foreign exchange services, having been named Most Innovative Bank for Foreign Exchange and Singapore’s best foreign exchange bank by Global Finance in 2025.
“`
This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.
