Dahua bank, the third largest bank in Singapore, is suspected to develop an encrypted escrow solution
According to the block, United Overseas Bank, Singapore's third-largest bank, appears to be developing a crypto hosting solution. The bank has created a position of "Vice President - encryption security administrator" to obtain expert advice on how to design a security solution for "encryption key management.". The work includes managing the installation of the hardware security module (HSM), establishing a "centralized" key management solution, maintaining encryption keys, and other responsibilities. Applicants should have a clear understanding and experience of HSM equipment, encryption standards, password key generation and management, and payment network standards (including token). This shows that UOB's encryption escrow program is still in its infancy, and the bank currently has no other encryption related vacancies. For now, the bank declined to comment.