Key Notes
- Singapore’s DBS is now offering tokenized structured notes on the Ethereum blockchain.
- Each note is sold in $1,000 units, making it attractive to investors.
- Ethereum moved toward $4,300 after the announcement.
This time, Ethereum’s (ETH) latest price surge is finding a new bullish catalyst in Singapore.
Institutions in Singapore Now Have Access to Ethereum
DBS, the country’s largest bank, has rolled out tokenized structured notes directly on the Ethereum public blockchain. This generates significant institutional interest in the largest altcoin and its network.
Institutional investors in Singapore, one of the largest economies in the world, can access the tokenized notes via leading local exchanges ADDX, DigiFT, and HydraX.
Singapore’s economy has been rising strongly with its tech-savvy population. Data shows that the country’s gross domestic product rose from $308 billion in 2014 to over $547 billion in 2024.
According to the report, this product is a crypto-linked participatory note that pays users in cash if crypto prices go up, but also limits how much they can lose if prices drop.
Each note is sold in $1,000 units, which makes them easier to trade and more attractive to family offices and professional investors.
Ethereum Price Today
At this point, Ethereum gained 3% in the past 24 hours and is trading at $4,310 at the time of writing. The leading altcoin currently has a market cap of $520 billion.
The rise comes after ETH dropped to a local low of $4,100 on Aug. 20 due to increased fear, uncertainty, and doubt, also called FUD among the community.
With the latest Singapore-based development, a deeper institutional interest is expected to enter the cryptocurrency market.
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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.
Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his name and his work has been featured on some of the leading outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Other than reporting, Wahid likes to connect the dots between DeFi and macro on his newsletter, On-chain Monk.
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Source: https://www.coinspeaker.com/eth-surges-dbs-introduces-tokenized-notes-on-ethereum/
