DBS, Singapore’s largest bank, announced The company will offer structured notes and over-the-counter options linked to Bitcoins and cryptocurrencies for its institutional customers.
JUST IN: ðŸ‡ðŸ‡° Singapore's largest bank, DBS to launch #Bitcoin Trading in crypto-options is also possible. pic.twitter.com/lnres4MdMw
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DBS has become the latest large traditional bank in Asia to offer Bitcoin-related financial products.
In Q4 2020, institutional investors who meet the eligibility requirements and accredited DBS Private Bank clients have access to tailored Bitcoin exposure and crypto through OTC options. The OTC options are a response to the increasing demand for Bitcoin and Crypto from professional investors.
“Professional investors are increasingly allocating to digital assets in their portfolios. Now, our clients have an alternative channel to build exposure to the asset class and incorporate advanced investment strategies,” DBS’s executive was quoted as saying this.
After the US Spot Bitcoin Exchange Traded Funds’ success this year, more financial giants are launching Bitcoin and cryptocurrency offerings. Earlier last month, CME Group Bitcoin Friday futures, or BFF (Bitcoin Friday futures), will be added to the company’s existing Bitcoin and crypto derivatives products.Â
DBS and other leading Asian banks are making moves to further legitimize Bitcoin among institutional investors. The availability of Bitcoin investments from trusted providers is believed to accelerate adoption. Other major Asian If banks continue to follow DBS, regional Bitcoin access could be significantly expanded.
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Source: bitcoinmagazine.com
