updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131Singapore’s largest bank, DBS, has teamed up with JPMorgan’s Kinexys division to design a framework enabling real-time interbank transfers of tokenized deposits across multiple blockchains. The initiative represents a significant step toward merging traditional finance with decentralized settlement architecture.
According to local reports, the new framework will streamline liquidity movement between institutions, reduce settlement times from days to seconds, and lower operational risks in cross-border transactions. The system will leverage Kinexys’ cross-chain infrastructure, enabling interaction between permissioned and public blockchains without compromising compliance or data privacy.
The collaboration focuses on creating interoperability standards that allow banks to issue, move, and redeem blockchain-based representations of customer deposits in real time.
“As the digital asset ecosystem continues to grow, interoperability remains a critical piece in reducing fragmentation and ensuring that the full value of tokenized money can be transferred safely across borders,” said Rachel Chew, Group Chief Operating Officer and Head of Digital Currencies, Global Transaction Services, DBS Bank.
Tokenized deposits differ from stablecoins by being fully backed by bank-held funds, maintaining regulatory oversight while delivering the programmability and instant settlement benefits of blockchain technology.
The partnership follows DBS’s ongoing efforts to integrate blockchain-based products into institutional finance.
Last month, DBS and Goldman Sachs executed the first-ever interbank crypto options trade, a cash-settled over-the-counter transaction involving Bitcoin
BTC
$103 155
24h volatility:
2.5%
Market cap:
$2.06 T
Vol. 24h:
$71.39 B
and Ether
ETH
$3 452
24h volatility:
3.3%
Market cap:
$417.12 B
Vol. 24h:
$34.89 B
options. During the announcement, Max Minton, Goldman Sachs’ Head of Digital Assets for Asia Pacific, expressed expectation of more institutional involvement in the coming months.
As major institutions like JP Morgan and DBS advance asset tokenization initiatives, early-stage projects such as SUBBD continue attracting investor attention.
SUBBD is an AI-driven project with creator monetization tools for influencers and brands.
The SUBBD presale has now exceeded $1.3 million of its $1.5 million target, with tokens currently priced at $0.057. With less than 24 hours before the next pricing tier, early investors can visit the official SUBBD presale site to access up to 20% staking rewards and other community incentives.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
Singapore’s DBS Bank is set to launch over-the-counter (OTC) crypto options trading and structured notes in the fourth quarter of 2024.
This initiative aims to cater to the needs of institutional clients looking for ways to manage the volatility associated with major digital assets like Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies by market capitalization.
According to DBS, clients who wish to gain exposure to cryptocurrencies can now do so through options trading and structured notes.
A crypto options contract derives its value from the price of underlying digital currencies. It enables traders to lock in the right, but not the obligation, to buy or sell an asset at a predetermined price at a future date.
By purchasing put options, for example, clients can secure the ability to sell Bitcoin at a fixed price, regardless of market conditions at the time of execution, thus providing a layer of protection against price drops. This flexibility is particularly useful for investors seeking to manage the volatility of their crypto portfolios.
In addition to options, DBS will offer structured notes, which are debt securities whose returns are tied to the performance of underlying assets.
Structured notes provide investors with more customized opportunities, allowing them to capitalize on market movements while potentially reducing risk through tailored financial products.
Announced on September 17, 2024, DBS’s new offerings will give institutional investors access to advanced financial products linked to BTC and ETH.
These products, which include crypto options contracts and structured notes, are designed to allow investors to hedge against the market fluctuations that have historically characterized the cryptocurrency space.
With this move, DBS is expanding its digital asset services to include more sophisticated strategies, aligning itself with the growing demand for institutional-grade access to digital assets.
According to Jacky Tai, DBS’s group head of trading and structuring, institutional clients are increasingly allocating funds to digital assets, and this expansion provides them with a new channel for incorporating advanced strategies into their portfolios.
DBS’s commitment to offering “trusted institutional-grade access” to digital assets is in line with its broader mission of integrating blockchain technology and Web3 infrastructure into its financial services.
As Singapore continues to lead in the global adoption of digital assets, DBS Bank remains at the forefront, leveraging regulatory support and technological innovation to provide cutting-edge solutions for its clients.
Previously Bitcoin has been fluctuating between the $20K and $25K price marks. Billions of dollars have been wiped off due to the crash in its price, particularly in the last four weeks. The loss has become the primary cause of several firms’ liquidation issues in the crypto industry.
Certain companies have taken hard steps to sustain and balance their financial stats. An example of such companies is Celsius, a crypto lending platform. In June, the company announced the suspension of withdrawals for users. It stated that the move was due to the conditions of the market.
Another notable example is CoinFlex, a crypto exchange. At the time, the platform reported that it would halt withdrawals for its users. This resulted from a client who failed to meet up with repaying his debt to the forum.
The crypto market is still struggling to get back on the bullish trend. Moreover, Bitcoin trades at a price just below $21,550 at the time of writing.
Meanwhile, DBS has recently announced the increasing rate of digital currency transactions on its exchange. DBS is a Singapore-based digital investment company. According to its announcement, the transactions of digital currencies have doubled, dating from the last plunge in June.
DBS crypto transactions’ success is quite surprising given the nature of the current crypto winter. Moreover, certain other crypto exchange firms reported the negative effect of the market state on them. Some prominent examples are Coinbase, Bybit, CryptoCom, and Gemini.
At the time, these digital currency firms saw the need to cut down on staff capacity. However, the fall of the market was not the only reason for the action. The companies also reported the outflow of many of their investors.
Meanwhile, Piyush Gupta believes that the platform, DBS, will become an essential part of the financial sector. He added that its impact on the financial network would place it as a substitute for gold. Piyush Gupta is the CEO of DBS Bank, the trading platform’s mother company. Moreover, Gupta is a known proponent of digital currencies.
The fall of the crypto market can be traced to certain factors from which the collapse of Terra is not excluded. First, the occurrence resulted in a notable disaster in the market. Another example is Three Arrow Capital. At the time, the firm received order into liquidation from the British Virgin Island-based court.
Additionally, the energy crisis, Ukraine military war, and reoccurring inflation worldwide are some significant causes of the crypto market crash. The heat of the event brought BTC to its lowest level in 2020, about $17,500.
Featured image from Pixabay, chart from TradingView.com
Piyush Gupta, the chief executive officer (CEO) at DBS Bank, says cryptocurrencies like Bitcoin will continue to grow as a meaningful store of value, just like gold. However, he also thinks that cryptocurrencies will not take over the role of state-backed currency.
In the DBS Bank’s annual report released on Wednesday, DBS Holding CEO Piyush Gupta said private digital coins like Bitcoin can be a store of value as they can be saved, retrieved, and exchanged at a later time, just like gold.
Considering the regulatory and political approach, he said:
“Regulators and politicians will be reluctant to give up control of monetary policy and economic management tools, and will therefore be very cautious about letting private money grow. Having said this, I do think that private money (crypto) will continue to grow as a meaningful store of value, much like gold is today.”
The global bank’s chief does not see privately-issued digital coins taking over the role of state-backed money.
“The reason for this is that money needs to have three attributes: be a unit of account, a medium of exchange and a store of value. Privately-issued coins find it hard to attain the first two of these,” he explained.
Privately-issued coins find it hard to attain the first two of these, according to Gupta, as reasons include a lack of ubiquity, absence of faith in the issuer, and large volatility in value, among others.
Moreover, Gupta said central bank digital currencies (CBDCs) will become more common and there’s a need to stay close to these developments. Since 85% of central banks in the world are either currently studying or piloting it, the direction of travel seems clear.
DBS is participating in industry sandboxes and experimenting with the central bank digital currency in association with the Monetary Authority of Singapore, Gupta added.
Countries such as China, the U.S., Russia, Brazil, Australia among others are already experimenting, studying, and piloting CBDC projects.
Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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