Singapore's DBS Bank to Launch Bitcoin and Crypto Options for Institutions

Credit : bitcoinmagazine.com

DBS, Singapore’s largest financial institution, announced it could provide over-the-counter (OTC) choices buying and selling and structured notes linked to Bitcoin and crypto for institutional purchasers.

JUST IN: 🇭🇰 Singapore’s largest financial institution, DBS, is launched #Bitcoin and crypto choices buying and selling. pic.twitter.com/lnres4MdMw

— Bitcoin Journal (@BitcoinMagazine) September 17, 2024

As a number one Asian monetary establishment with greater than $360 billion in property below administration, DBS is the newest main conventional financial institution to embrace Bitcoin-linked monetary merchandise.

From This fall 2024, eligible institutional traders and accredited DBS Non-public Financial institution purchasers could have entry to tailor-made Bitcoin and crypto publicity by the OTC choices. This follows rising demand from skilled traders investing in Bitcoin and crypto.

“Skilled traders are more and more allocating digital property of their portfolios. Now our purchasers have another channel to construct publicity to the asset class and combine superior funding methods,” mentioned a DBS govt.

The information comes as extra monetary giants launch Bitcoin and crypto choices following the success of Spot Bitcoin ETFs within the US this yr. Earlier final month, CME Group additionally introduced that they may additional increase their Bitcoin and crypto derivatives providing with the introduction of Bitcoin Friday futures (BFF).

Actions by main banks corresponding to DBS will additional legitimize Bitcoin as an asset class for institutional traders in Asia and globally. Many consider that the broader availability of Bitcoin funding autos from respected suppliers will speed up mainstream adoption. If different main Asian banks observe DBS’s lead, it may considerably increase regional entry to Bitcoin.