DBS Bank becomes the first major Asian bank to offer OTC options trading for Bitcoin and Ethereum.
DBS Digital Exchange’s trading value nearly tripled in early 2024.
Singapore’s largest bank, DBS Bank which has its digital exchange DDEx, is set to enhance its cryptocurrency services by launching over-the-counter options trading for Bitcoin and Ethereum. In a press release on Tuesday, DBS announced that it will provide advanced cryptocurrency trading tools and structured notes to its corporate clients.
This move marks a significant milestone as DBS becomes the first major Asian bank to offer crypto options trading. The new service will enable institutional investors to gain sophisticated exposure to Bitcoin and Ether, the two leading digital assets by market capitalization.
Jacky Tai, DBS Group’s Head of Trading, emphasized the rising institutional appetite for digital assets. He stated,
“These financial products are an expansion of the bank’s value propositio
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