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DBS, the biggest bank in Singapore, has officially announced that it will introduce over-the-counter (OTC) trading options and structured notes. This new initiative will be linked to Bitcoin (BTC) and Ethereum (ETH) and exclusive to institutional investors and wealthy clients.Â
Remarkably, this advancement makes DBS the first Asian bank to provide financial products tied to the value of the top two cryptocurrencies by market value. It is important to note that only eligible institutional clients and accredited clients of DBS Private Bank and DBS Treasures private clients will have access to these financial products.Â
Accredited Clients to Earn Yield and Hedge Volatility
In the detailed announcement, DBS shared that this initiative, slated to kick off by the fourth quarter of 2024, is to provide easy access and seamless trading options. The bank noted that clients may diversify their investments by trading security tokens on DBS Digital Exchange (DDEx).Â
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Now, eligible clients looking to expand their exposure to these asset classes can opt for options trading and structured notes. Clients also can earn a yield on fiat or receive the underlying cryptocurrencies. However, this depends on the productâs design and virtual asset price fluctuations.
Interestingly, eligible clients holding Bitcoin and Ethereum with DBS can safeguard their positions against market fluctuations. They can also generate yield through different options strategies.Â
DBS Drives Innovation with Expanded Crypto SolutionsÂ
Jacky Tai, DBSâs Group Head of Trading and Structuring, highlighted that these initiatives are part of the bankâs strategy to deliver cutting-edge financial solutions. It is to ensure clients have the tools they need to succeed in an increasingly digital financial landscape.
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In 2022, the leading Singaporean consumer bank launched a self-directed crypto trading function on its DBS digibank mobile app. These financial products are designed to offer clients an additional avenue to invest in digital assets.
Paving the Way for Crypto Adoption in Asia
DBSâs launch of these new financial products aligns with the rapid growth in the cryptocurrency market. In the first five months of 2024, the total market capitalization of cryptocurrencies rose by 50%. During this same period, DBSâs DDEx saw a nearly tripled asset trade value and an 80% surge in assets held, with a 36% rise in active clients.
DBSâs entry into crypto-related financial products aligns with the trend of leading financial institutions embracing Bitcoin and cryptocurrency services. This step is anticipated to enhance Bitcoinâs credibility as an asset class among institutional investors in Asia and boost its acceptance in the mainstream within the region.
