Two of the world’s most prominent financial institutions, DBS and Goldman Sachs (GS), said they executed the first-ever over-the-counter (OTC) cryptocurrency options trade between banks, marking a major step toward institutionalizing digital assets in Asia. The trade involved cash-settled bitcoin (BTC) and ether (ETH) options, allowing the banks to hedge exposure tied to crypto-linked products, the companies said in an email. Such transactions mirror practices long common in traditional finance, offering ...