- 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 proposition to provide clients trusted institutional-grade access to the digital asset ecosystem. Now, our clients have an alternative channel to build exposure to the asset class and incorporate advanced investment strategies to better manage their digital asset portfolios.”
This strategic expansion is part of DBS’s ongoing efforts to integrate Web3 technologies and enhance its digital asset services. The introduction of cryptocurrency options trading positions DBS as a pioneer in the Asian financial sector. Showcasing its commitment to expanding access to innovative financial products and services.
DBS Trading Value Tripled in Early 2024
DBS Digital Exchange has seen its trading value nearly triple within the first five months of 2024. This significant surge underscores the growing interest in digital assets and highlights the increasing adoption of the exchange’s services.
In addition, the impressive growth reflects the expanding role of DBS Digital Exchange in the cryptocurrency market, driven by heightened institutional participation and a broader acceptance of digital assets. The exchange’s robust performance in 2024 signals a strong market presence. And sets a positive trajectory for future developments as it continues to cater to the evolving needs of its investors. With the launch of new cryptocurrencies, a bullish signal is anticipated.
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