Singapore’s DBS Bank to Issue Tokenized Crypto Notes on Ethereum Blockchain - A Landmark Move in Digital Finance

DBS Bank shatters traditional finance barriers by launching tokenized crypto notes on Ethereum—finally giving institutional investors what they actually want.

Why This Matters

Singapore's largest bank isn't just dipping toes—it's diving headfirst into blockchain-based securities. These aren't your grandpa's bonds; they're programmable, tradeable, and transparent digital assets that bypass middlemen and settlement delays.

The Ethereum Advantage

By leveraging Ethereum's robust smart contract capabilities, DBS ensures automated compliance, instant settlements, and global accessibility. No more waiting three days for trades to clear—this is finance at blockchain speed.

The Cynical Take

Because nothing says 'innovation' like traditional banks finally catching up to what crypto natives have been doing for years—but hey, at least they're using real blockchain instead of PowerPoint.

Market Impact

Watch for other major banks to follow suit once DBS proves the model. Tokenization isn't coming—it's already here, and it's about to rewrite the entire playbook for institutional finance.

DBS’s First Tokenized Product: Crypto-Linked Notes

The bank has launched new crypto-linked notes that provide access to the asset class through DBS’s digital asset ecosystem. The notes pay out in cash when there is a rise in the prices of crypto.

“[This] enables them to build exposure to the asset class without having to manage any cryptocurrency,” the announcement read. “The note is also structured to mitigate potential losses should cryptocurrency prices decline.”

DBS initially launched crypto-linked structured notes in September 2024, alongside crypto options trading.

DBS Responds to Rising Demand

There has been a strong demand for such instruments among investors, the bank said. “In the first half of 2025, DBS clients executed over US$1 billion of trades involving these instruments.” Further, trade volumes increased almost 60% from Q1 2025 to Q2 2025.

Additionally, DBS will also tokenize common structured notes, including equity-linked and credit-linked notes.

“Asset tokenization is the next frontier of financial markets infrastructure,” said Li Zhen, Head of Digital Assets at DBS. “Our first tokenized product, a crypto-linked note, also addresses the growing institutional appetite for digital assets.”