DBS brings tokenised physical gold to the mass market in Singapore

DBS is set to offer tokenised physical gold to customers, enabling them to digitally access, hold, and trade tokenised the metal through a single platform

The bank describes it as the first such offering in Singapore.

For retail customers, DBS Physical Gold Tokens will be available via DBS digibank in the second half of 2026.

The bank is also exploring plans to list the token on DBS Digital Exchange (DDEx), tailored for accredited investors and institutional partners, with more details to be announced in due course.

DBS will tokenise, issue, distribute and manage the physical gold tokens entirely in-house, backed by bank-grade infrastructure.

By applying blockchain technology to physical gold and making fractionalised ownership possible, investing in this asset class can be more “cost-effective” and accessible to a wider pool of investors, said the Singapore-based lender.

Customers can trade on a 24/7 basis, with atomic settlement enabling customers to perform near-instant transactions.

Fractional ownership will allow customers to purchase, trade and hold smaller amounts, or fractions, of physical gold in the form of tokens, and they will have the option to redeem their tokens for physical gold.

Each token is backed by one gram (S$200 or $155.32) of physical gold held by DBS in a dedicated vault in Singapore.

This offering further strengthens the bank’s existing suite of gold investment solutions, which range from funds to physical bullion.

The rollout comes amid structural demand for the yellow metal, with gold prices reaching an all-time high of $5,600 per ounce earlier this year, noted the bank.

According to a European Central Bank (ECB) report in June, gold has become the world’s largest reserve asset, moving ahead of US government bonds. The shift follows years of heavy buying by central banks and a steep rise in bullion prices over the past two years.

The ECB said gold accounted for 27% of global central bank reserve assets at the end of 2025, which was up from 20% a year earlier, while by contrast, the share of US Treasuries fell to 22% from 25% over the same period.

DBS investment product and advisory group head James Tan said: “Gold as an asset class has taken off in recent years, demonstrating its enduring value as a safe haven and a critical diversifier in uncertain times. While our retail investors have been able to buy gold funds, access to physical gold has been largely available to only institutional and accredited investors. DBS has offered physical gold investments to wealth clients since 2013, and we are now leveraging tokenisation to broaden access, enabling more retail customers to invest in gold in a safe and meaningful way.”