DBS Bank of Singapore plans to launch over-the-counter (OTC) crypto options trading and structured notes for institutional clients in Q4 2024, according to a Sept. 17 statement.
He said: “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.”
For example, a client worried about Bitcoin’s price swings could buy a put option. This allows them to sell Bitcoin at a set price in the future, even if the market price falls below that level. DBS also reported significant growth in crypto trading volumes on its digital exchange.
In the first five months of 2024, trading volume for digital payment tokens on DDEx tripled compared to the same period in 2023. The number of active trading clients grew by 36%, while digital assets under custody increased by 80%. The bank credited this growth to a net inflow of deposits from clients seeking safe, bank-grade platforms for custody and trading of digital assets.
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