- Launch of New DBS Products in Q4 2024
- Crypto Market Growth on DBS Digital Exchange
- Singapore’s Role in the Crypto Industry
Singapore's largest bank, DBS, has announced plans to launch over-the-counter (OTC) options and structured notes linked to Bitcoin and Ethereum prices.
Launch of New DBS Products in Q4 2024
According to the press release, the new products will be launched in the fourth quarter of 2024. These offerings will be exclusive to institutional investors and accredited wealth clients. 'From Q4 2024 onwards, eligible clients seeking to build exposure to the asset class may do so through options trading and structured notes,' stated DBS. The new products will allow clients to potentially earn yields in fiat currency depending on market movements. Additionally, clients custodizing Bitcoin and Ethereum with DBS can hedge their positions against market volatility through various options structures.
Crypto Market Growth on DBS Digital Exchange
DBS Digital Exchange reported that the value of crypto traded on their platform tripled in the first five months of 2024. Active trading clients grew 36%, and the amount of crypto custodied with DBS surged over 80%. DDEx is DBS Bank’s crypto arm, launched in December 2020. It is not open to the general public and is exclusive to corporate investors, financial investors, and market makers, but individuals can participate via DBS Private Bank.
Singapore’s Role in the Crypto Industry
The news aligns with Singapore's efforts to establish itself as a crypto hub. The country has taken a proactive approach to regulating crypto. The Monetary Authority of Singapore (MAS) is the central bank and main regulator that oversees crypto regulations. Additionally, the country has established robust AML measures, including transaction monitoring and due diligence, to ensure a safe environment for crypto investors.
DBS continues to be a pioneer in the crypto industry by offering innovative products for institutional and accredited investors. This step reflects the bank’s and the country's active efforts to lead in the crypto market, providing safe and regulated conditions for investors.
Comments