Singapore's DBS Bank will launch tokenized physical gold for retail customers in the second half of 2026 via its digibank app. Each token, backed by one gram of physical gold held in a dedicated Singapore vault, aims to broaden access to the asset class. The move aligns with a growing trend of real-world asset tokenization and Singapore's ambition to become a major gold trading hub, following a similar product launch by competitor OCBC.
DBS tokenized gold launch
- ▪The product, called DBS Physical Gold Tokens, will be available through the bank's digibank mobile app
- ▪The offering is described as the first in Singapore to let retail customers digitally access, hold, and trade tokenized physical gold on a single platform
- ▪DBS is exploring plans to list the token on its DBS Digital Exchange (DDEx) for accredited investors and institutional partners
- ▪DBS Group, Singapore's biggest bank, will offer tokenized physical gold to retail customers in the second half of 2026
Real-world asset tokenization trend
- ▪Physical gold holdings among DBS wealth clients have more than doubled over the past three years
- ▪The launch aligns with a growing trend of tokenizing real-world assets (RWAs) on blockchains and Singapore's push to become a gold trading hub
- ▪Tokenization is the process of turning ownership of a real asset into a digital token that can be traded electronically
- ▪In April 2026, Singapore's second-largest bank, OCBC, launched its own tokenized physical gold fund called GOLDX on Ethereum and Solana
Physical gold backing
- ▪As of June 11, 2026, one gram of gold was worth approximately S$200 ($155)
- ▪Each DBS Physical Gold Token will be backed by one gram of physical gold
- ▪Customers will be able to buy smaller amounts of gold, trade around the clock, and redeem tokens for physical gold
Singapore vault custody
- ▪The physical gold backing the tokens will be held by DBS in a dedicated vault in Singapore
- ▪DBS will manage the tokenization, issuance, distribution, and management of the physical gold tokens entirely in-house
- ▪DBS has offered physical gold investments to its wealth clients since 2013
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