In response to growing demand, DBS is offering physical gold tokens to retail customers in Singapore from the second half of 2026.

This will be the first such offering in the local market to enable clients to digitally access, hold, and trade tokenized physical gold through a single platform.

The bank is also exploring plans to list the tokens on the DBS Digital Exchange ( DDEx ), tailored for accredited investors and institutional partners. 

The launch reflects a growing trend as real-world asset tokenization continues to reshape how investors access traditional asset classes.

Leveraging its expertise in digital asset solutions, DBS will tokenize, issue, distribute, and manage the physical gold tokens entirely in-house – backed by trusted bank-grade infrastructure.

By applying blockchain technology to physical gold and making fractionalized ownership possible, investing in this asset class can be more cost-effective and accessible to a wider pool of investors, the bank says.

Major benefits

The service combines the advantages of tokenization with the stored value of physical gold, providing customers with several key benefits. These include the ability to trade tokenized gold on a 24/7 basis, atomic settlement, fractional ownership, and greater flexibility as customers have the option to redeem the tokens for physical gold.

Each token is backed by one gram of physical gold, valued at S$200 ( US$155 ), which the bank holds in a dedicated vault in Singapore, giving investors greater peace of mind that their assets are safely stored with a trusted banking platform.

The DBS Physical Gold Token further strengthens the bank’s existing suite of gold investment solutions, which range from funds to physical bullion, offering customers in Singapore a wider range of ways to invest based on their needs and risk appetite.

The rollout comes amid rising demand for the yellow metal, with gold prices reaching an all-time high of US$5,600 per ounce earlier this year. Despite recent price fluctuations, investors across the region continue to seek gold as a store of value and portfolio diversifier to hedge against inflation, geopolitical uncertainty, and market volatility.

In-house institutional capability

“Our ability to deliver DBS Physical Gold Token is built on the bank’s fully in-sourced, end-to-end institutional capability – physical vaulting, tokenization engine, digital custody, and digitized distribution,” says Li Zhen, head of foreign exchange, precious metals and digital assets, global financial markets, DBS.

“Through the secure and compliant deployment, underpinned by robust risk management and governance, we are able to minimize operational friction and streamline physical gold access and management for our clients.”

This initiative is the latest in the bank’s efforts to leverage digital asset technology to transform the future of finance. In 2025, DBS expanded its blockchain capabilities by tokenizing structured notes on the Ethereum public blockchain and offering it to eligible investors on third-party digital investment platforms and digital exchanges.

It also listed sgBENJI, the token of Franklin Templeton’s tokenized money market fund, alongside the Ripple USD stablecoin, enabling eligible DBS clients to rebalance their portfolios into a relatively stable asset 24/7 and within minutes, while earning yield during periods of volatility.