Singapore’s premier financial institution, DBS Bank, reveals plans to launch Bitcoin (BTC) and Ethereum (ETH) options trading as well as structured notes via an over-the-counter (OTC) system. This initiative is evidence of the increased interest traditional banks are showing in the digital currency sphere.
The new crypto trading options will be made available to the bank’s institutional clients by the fourth quarter of 2024, providing them with an innovative, upgraded service. This latest offering will allow DBS Bank clients to hedge their positions in Bitcoin and Ether using a variety of options structures.
The keenness for DBS Bank to venture into digital currency becomes more apparent considering its track record. The bank is already a known player in the crypto industry since its launch of the DBS Digital Exchange (DDEx), a platform allowing clients to trade spot crypto, in 2020.
DBS has proudly claimed the title of being the first Asian-headquartered bank to offer financial products directly linked to the price of Bitcoin and Ethereum, emphasizing its drive to stay ahead of the digital financial curve.
Jacky Tai, DBS’s Group Head of Trading and Structuring within the Global Financial Markets division, commented on the bank’s recent push towards crypto options. He noted an uptake in crypto allocation among professional investors. Tai said their clients will now have an extra channel to gain exposure to the digital asset class and utilize advanced investment strategies, hence better managing their digital asset portfolios.