TLDR
- DBS plans to offer tokenised physical gold to retail customers through its digibank app in 2026.
- Each DBS Physical Gold Token will be backed by one gram of gold held in Singapore.
- Retail customers will be able to buy smaller gold amounts and redeem tokens for physical gold.
- DBS said physical gold holdings among its wealth clients have more than doubled in three years.
- Singapore is exploring ways to expand gold vaulting and trading as investor demand increases.
DBS Group, Singapore’s largest bank by assets, plans to offer tokenised physical gold to retail customers as demand for the precious metal continues to grow. The bank said the new product, called DBS Physical Gold Tokens, will be available through its digibank app in the second half of 2026.
The offering is expected to become the first in Singapore that allows retail customers to digitally access, hold, trade, and redeem tokenised physical gold through one platform. DBS said each token will be backed by one gram of physical gold held in a dedicated vault in Singapore.
Tokenisation refers to the process of representing ownership of a real-world asset through a digital token that can be traded electronically. In this case, the asset behind the token is physical gold rather than a purely digital instrument.
DBS Expands Retail Access to Gold
DBS said the product is designed to let customers buy smaller amounts of gold than would usually be practical in physical markets. A gram of gold was worth about S$200, or $155, as of Thursday, based on the exchange rate cited in the bank’s announcement.
Customers will be able to trade the tokens around the clock through the bank’s digital platform. DBS also said users will have the option to redeem tokens for physical gold, linking the digital product to the underlying vaulted asset.
James Tan, DBS group head of investment products and advisory services, said gold has gained wider attention as an asset class in recent years. He said tokenisation would allow more retail customers to access gold in smaller units and through a digital channel.
Singapore Pushes Gold Trading Ambitions
The launch comes as Singapore works to strengthen its position as a precious metals trading and vaulting hub. In March, the Monetary Authority of Singapore and the Singapore Bullion Market Association said they would explore ways to meet rising investor interest in vaulting and trading gold in the city-state.
DBS said the rollout reflects broader growth in real-world asset tokenisation, a market segment that uses blockchain-based records to represent traditional financial and physical assets. The bank said this model can change how investors access established asset classes such as gold.
The bank is also exploring plans to list the token on its DBS Digital Exchange. That possible listing would be aimed at accredited investors and institutional partners rather than only retail users.
Gold Demand Remains Strong Despite Price Swings
Gold has remained in demand as a store of value, even as prices have moved sharply during the year. Reuters reported that gold reached a record high of $5,600 an ounce earlier in 2026 amid inflation concerns, geopolitical tensions, and broader market volatility.
Spot gold later fell to $4,111.95 on Wednesday, its lowest level since March 23 and around 27% below that peak. DBS said volatility in gold trading had increased in recent months, partly due to conflict in the Middle East and its effect on oil prices, inflation expectations, and Federal Reserve policy views.
Physical gold holdings among DBS wealth clients have more than doubled over the past three years, according to the bank. The planned retail tokenised gold product will place DBS among the financial institutions using blockchain-based structures to widen access to traditional assets while keeping physical backing inside regulated custody arrangements.
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