New Bitcoin and Ether step from Singapore's largest bank DBS
DBS, considered the largest bank in Singapore and Asia, has added a new one to the crypto services it has been providing for years. The bank will provide over-the-counter Bitcoin and Ether option transactions, also known as OTC. Although a specific date has not been given, the activities are expected to start in the 4th quarter of this year.
DBS, which has $400 billion in assets under management, has added a new one to the digital asset and crypto transactions it has been providing since 2020. The Singapore-based bank will allow OTC, i.e. over-the-counter Bitcoin and Ether option transactions. For now, the transactions will only be open to accredited clients and corporate firms.
While the statement was officially made by DBS, no clear date was given for the transactions, but the 4th quarter was indicated.
In addition to Bitcoin and Ether OTC option transactions, DBS will also offer structured debt bonds. These bonds will also be Bitcoin and Ether-based. As is known, OTC transactions mean that the terms are determined by both parties to the trade, rather than a central platform.
DBS, which has been providing services on cryptocurrencies since 2020, introduced DBS Treasury Tokens last month. It was expected that institutional liquidity would be provided much more easily with these tokens issued on an EVM-compatible blockchain.
Singapore, where DBS is headquartered and founded, is known as the country with the strictest and most established crypto regulations in the world.
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