21-8-2025 – DBS Bank, Singapore’s largest financial institution, has launched tokenized structured notes on the Ethereum blockchain, opening access to sophisticated investment products for institutional and accredited investors. The initiative, first reported by CoinDesk, marks the bank’s first venture into offering tokenized assets to non-clients via platforms like ADDX, DigiFT, and HydraX.
The initial offering focuses on crypto-linked participation notes, which deliver cash payouts when digital asset prices rise while limiting losses during declines. By tokenizing these notes into $1,000 units, down from the traditional $100,000 minimum, DBS enhances their tradability and appeal to family offices and professional investors. The bank reported over $1 billion in crypto-linked note trades in the first half of 2025, with a 60% volume increase from Q1 to Q2, reflecting strong demand.
This move builds on Singapore’s Project Guardian, transitioning from permissioned blockchains to Ethereum’s public network to scale tokenized finance globally. The tokenized notes align with Singapore’s growing role as a wealth management hub, where single-family offices surged 43% to over 2,000 in 2024.
DBS plans to extend tokenization to equity- and credit-linked notes, aiming to meet institutional demand for flexible digital asset strategies. Li Zhen, head of foreign exchange and digital assets at DBS, called tokenization the “next frontier” for financial markets. DBS will now focus on expanding its tokenized offerings and integrating feedback from partner platforms to refine the investor experience.
