DBS Group, Singapore's largest bank by assets, said on June 11, 2026, it will provide retail customers with access to tokenised physical gold in the second half of the year [1, 2, 3, 4, 5]. The DBS Physical Gold Tokens will be available via the DBS digibank app, with each token backed by one gram of physical gold securely stored in a dedicated DBS vault in Singapore [1, 2, 3, 4, 5].

This product will be the first in Singapore to allow retail investors to digitally buy, hold, and trade tokenised physical gold on a single platform [1, 2, 3, 4, 5]. Tokenisation converts ownership of physical assets into digital tokens that can be traded electronically [1, 2, 3]. Customers can buy smaller amounts of gold, trade 24/7, and redeem tokens for physical gold [1, 2, 3, 4, 5].

James Tan, group head of investment products and advisory services at DBS, said, "Gold as an asset class has taken off in recent years. Tokenisation would allow more retail customers to invest in gold." He added, "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." [1, 4]

Physical gold holdings among DBS wealth clients have more than doubled over the past three years, reflecting rising demand [1, 2, 3, 4, 5]. DBS is also exploring plans to list the physical gold token on its DBS Digital Exchange for accredited investors and institutional partners [1, 2, 3, 4, 5].

Gold prices hit a peak near US$5,600 per ounce earlier in 2026 before falling about 27% to US$4,112 on June 10, 2026, reaching its lowest level since March 23 amid liquidity pressures related to the Middle East conflict and recent US strikes on Iran [1, 2, 3, 4]. A gram of gold is valued around US$155 to US$200, or roughly S$200 as of June 11, 2026 [1, 2, 3].

DBS’s offering contrasts with other local banks: United Overseas Bank (UOB) offers retail investors physical and paper gold, while OCBC provides paper gold; all three offer gold-linked investments through digital platforms [4, 5]. The Monetary Authority of Singapore and Singapore Bullion Market Association announced efforts in March 2026 to enhance Singapore's position as a gold trading hub [4, 5].

DBS Physical Gold Tokens will be launched and accessible through the DBS digibank app in the second half of 2026 [1, 2, 3, 4, 5].