DBS offers tokenized gold to Singapore retail customers

DBS Group will let retail customers in Singapore buy tokenized physical gold through its mobile app starting in the second half of 2026. Each token represents one gram of gold stored in a vault. The entry price is roughly S$200 per gram.

The product, DBS Physical Gold Tokens, is the first retail tokenized gold offering in Singapore. DBS already sells physical gold to wealth clients; the token version lowers the minimum. “Tokenization makes gold investment access safer and more meaningful for retail customers,” James Tan, DBS group head of investment products, said in a statement.

DBS is considering listing the tokens on its Digital Exchange, DDEx, for accredited and institutional investors. That would create a two-tier market: retail via the app, institutions via the exchange. OCBC launched a similar tokenized gold fund, GOLDX, in April 2026, also on a public blockchain.

The move supports Singapore’s ambition to become a regional gold trading hub. The product carries risks. Gold prices move. The platform is new. Smart contracts can have bugs. Liquidity may be thin at launch. Regulations could shift.

Tokenized gold is not a crypto asset but a commodity-backed token. It competes with stablecoins and other digital stores of value. DBS has offered physical gold investments to its wealth clients since 2013. The tokenized version changes the economics by allowing gram-sized purchases.

For now, DBS is the only Singapore bank offering retail tokenized gold. The success of the product will depend on adoption, liquidity, and whether the exchange listing materializes. The bank declined to specify a launch date beyond the second half of 2026.