DBS Introduces Ethereum-Based Tokenized Structured Notes
DBS, the largest bank in Singapore, has launched tokenized structured notes on the Ethereum public blockchain.
Quick overview
- DBS has launched tokenized structured notes on the Ethereum blockchain, marking a significant advancement in blockchain banking.
- These notes will be available to accredited and institutional investors, with the first product being a crypto-linked participation note.
- Tokenization lowers investment barriers and enhances liquidity, making structured notes more accessible and easier to trade.
- DBS aims to expand its tokenized offerings and anticipates that other institutions will follow suit in the evolving financial landscape.
DBS, the largest bank in Singapore, has launched tokenized structured notes on the Ethereum public blockchain. This also marks a big step forward in blockchain banking. As a result, the move highlights a new stage in the bank’s push to combine digital innovation with traditional finance.
MARKETS📈: DBS Tokenizes Structured Notes on Ethereum, Opens Doors to More Investors
— CoinDesk (@CoinDesk) August 21, 2025
DBS’s Announcement
In a press release, DBS announced that it will start offering structured notes in tokenized form on August 21, 2025. These products will be distributed through three Singapore-based digital exchanges, which are ADDX, DigiFT, and HydraX.
For the first time, DBS is now providing tokenized products not only to its private clients but also to accredited and institutional investors.
The first product is a crypto-linked participation note. It pays out in cash when cryptocurrency prices rise. However, it also has a built-in feature that limits losses when values fall. Therefore, this design may attract investors who want exposure to crypto markets without taking on the full risk.
Why Tokenization Matters
Structured notes are usually linked to stocks, bonds, or other assets. They also require a large minimum investment of around $100,000. Furthermore, they are tailored for individual clients, which makes them hard to trade and non-fungible.
By tokenizing these notes into $1,000 units, DBS is making them easier to trade and more accessible. Each note becomes fungible, which gives investors greater flexibility in buying and selling. As a result, entry barriers fall and portfolio management improves.
According to DBS, demand for these products is rising quickly. In the first half of 2025, clients traded more than $1 billion in structured notes. Moreover, trading volumes jumped by over 60% from the first quarter to the second.
Singapore’s Role in Tokenized Finance
This step comes as Singapore strengthens its position as a leading global hub for tokenized finance. Project Guardian, launched by the Monetary Authority of Singapore (MAS), is exploring tokenization in areas such as funds, bonds, and foreign exchange.
DBS has been one of the most active banks in these pilot programs. Until now, most of its work was carried out on private blockchains. However, by moving to Ethereum, DBS is showing strong confidence in public blockchains and their ability to support global banking.
What Benefits it Bring for Investors?
Tokenizing structured notes brings several advantages like:
- Accessibility: Lower minimums make them available to family offices and other qualified investors.
- Transparency: Ethereum’s public ledger makes transactions easier to track.
- Efficiency: Tokenized notes cut paperwork, leading to faster settlements.
- Flexibility: Smaller tradable units give investors more control over portfolios.
In Singapore, the number of single-family offices grew quickly, crossed 2,000 in 2024. DBS says this group represents a major market for tokenized products.
What is Next?
DBS plans to tokenize more products, including equity-linked and credit-linked notes, alongside its first crypto-linked offering. The bank also expects other institutions to follow, as asset tokenization is seen as the next big shift in financial markets.
By launching directly on Ethereum, DBS has moved beyond pilot projects into real markets. In the future, more assets such as equities, bonds, and even physical goods may also be tokenized. This would set an important precedent for global finance.
In short, DBS’s move marks a turning point. The line between traditional banking and blockchain is beginning to blur, creating new opportunities for investors and reshaping international financial systems.
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