Largest Bank Of Singapore To Open BTC and ETH Options Trading

DBS, the largest bank in Singapore, is set to introduce over-the-counter (OTC) options trading and structured notes linked to Bitcoin and Ethereum by the end of 2024. This will allow institutional and wealthy clients to invest in financial products connected to the prices of these popular cryptocurrencies. DBS will become the first bank in Asia to offer such crypto-linked products, which are designed to meet the growing demand for digital assets in investment portfolios.

The bank is expanding its existing crypto offerings, which are currently available through its DBS Digital Exchange (DDEx). These new services will give eligible clients more ways to invest in Bitcoin and Ethereum, offering customized exposure through OTC options and structured notes.

Jacky Tai, Group Head of Trading and Structuring at DBS, explained that there’s increasing interest from professional investors in adding digital assets (Crypto) to their portfolios. He believes that DBS’s "strong reputation and expertise in financial structuring" will make these new products attractive and help the bank grow its presence in the digital asset space.

DBS’s decision to offer these new crypto-related financial products aligns with a broader trend of large financial institutions entering the cryptocurrency space. This development could further legitimize Bitcoin and Ethereum as investment assets in Asia and encourage more institutional investors to explore the potential of digital assets. Earlier this year, DBS also launched a pilot project for treasury tokens, working with Ant International to create a blockchain-based solution.