Singapore's third-largest bank, UOB, plans to develop crypto solution

According to Block, Singapore's third largest bank, United Overseas Bank, appears to be developing an encrypted solution. The bank has opened the position of "Vice President of Cryptographic Security" to receive specialist information on the development of security solutions for "Cryptographic Key Management". This task includes managing the security module (HSM) configuration, establishing “centralized” key solutions, managing encryption keys, and other functions. Candidates should have a thorough understanding and experience with HSM equipment, encryption, cryptographic key creation and administration, and network payment protocols (such as tokenization), depending on the working method used. This shows that UOB's plan to keep crypto is still in its infancy and that the bank currently has no other crypto-related implications. Now the bank has declined to comment on the matter.