DBS to launch tokenized physical gold for Singapore retail

DBS Bank announced on Thursday that it will launch a tokenized physical gold product for retail customers in Singapore in the second half of 2026. The offering, called DBS Physical Gold Tokens, will allow everyday investors to buy, hold, and trade digital tokens representing fractional ownership of physical gold through the bank's digibank mobile app.

Each token will be directly backed by one gram of physical gold stored in a dedicated DBS vault in Singapore. The bank stated it will manage the entire lifecycle of the tokens, including issuance, distribution, and custody, using its own secure infrastructure. Customers will retain the right to redeem their digital tokens for actual physical gold bullion. DBS is also evaluating a future listing of the tokens on its DBS Digital Exchange, a platform currently tailored for accredited and institutional investors.

The initiative aims to make direct investment in physical gold more accessible and affordable. James Tan, group head of investment product and advisory at DBS, noted that while retail investors have had access to gold funds, direct access to physical gold has largely been limited to institutional and accredited investors. DBS...