Singapore’s DBS Bank is extending its crypto offerings by launching tokenized structured notes on the Ethereum blockchain, a move designed to increase access to sophisticated crypto-linked investment products for accredited and institutional investors.

DBS is changing the traditional model of structured notes, which typically require minimum investments of $100,000 and are thus hard for retail investors to access. They are introducing these notes in smaller $1,000 denominations through tokenization, making them more flexible, tradable, and manageable for investors.
The initiative builds on DBS’s growing crypto product suite, which commenced with the launch of crypto-linked structured notes and crypto options trading in September 2024. According to DBS, client activity has surged, with more than $1 billion in trades executed during the first half of 2025—marking a near 60% increase from Q1 to Q2.
Initially, DBS’s tokenized offerings focus on cash-settled crypto-linked participation notes, designed to provide investors with cash payouts tied to rising crypto prices. These notes enable exposure to digital assets without direct crypto management while incorporating structures to mitigate losses during market downturns.
Beyond this, DBS plans to tokenize additional structured products, including equity-linked and credit-linked notes. The bank’s head of foreign exchange and digital assets, Li Zhen, noted tokenization efforts have been underway since 2021 to meet rising institutional demand for digital assets.
These tokenized notes are exclusively available to accredited and institutional investors and will be distributed via Singapore-licensed digital investment platforms ADDX, DigiFT, and HydraX. While the notes reside on Ethereum, DBS has not disclosed specifics about network selection or the token issuance process.
This launch aligns with DBS’s broader blockchain strategy, which includes the October 2024 introduction of blockchain-based banking for real-time institutional payments and a November collaboration with Paxos to launch a USD-backed stablecoin in Singapore.
In another development, Deepcoin has partnered with Upbit Singapore to enable secure cross-platform transfers for KYC-verified users. This collaboration positions Deepcoin among the approved Virtual Asset Service Providers (VASPs) listed by Upbit Singapore, a MAS-regulated exchange known for its compliance-driven operations.
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