DBS and Goldman Sachs say they have completed the first ever OTC cryptocurrency options trade between two banks, marking a milestone in the maturation of crypto assets is Asia-Pacific.

The banks say the deal, which also demonstrates how the ecosystem is increasingly adopting risk management best practices that form the bedrock of traditional asset classes, involved trading cash-settled OTC bitcoin and ether options. They add such trades enable firms which offer cryptocurrency-linked products to better manage the risk profile of their…