DBS, a Singapore-based bank pioneering institutional crypto trading services, and Goldman Sachs executed the first-ever crypto options trade between two banks. The transaction involved cash-settled over-the-counter options for Bitcoin and Ether.

The interbank trade represents increasing confidence among major financial institutions in using crypto derivatives for hedging and risk management. Goldman Sachs has been expanding its crypto derivatives offerings to hedge fund clients amid growing market interest.

The development aligns with broader institutional moves as banks launch dedicated crypto trading desks to serve major investors following recent regulatory advancements. The collaboration marks a key integration of traditional finance with crypto ecosystems.