SINGAPORE: DBS Group, Singapore’s biggest bank by assets, said on Thursday (Jun 11) it will offer tokenised physical gold to retail customers as demand for the precious metal grows and the country pushes to become a gold trading hub.
The rollout comes as gold remains in demand as a store of value despite recent price swings. Gold prices touched a record high of US$5,600 an ounce this year amid concerns over inflation, geopolitical tensions and market volatility, but spot gold fell to US$4,111.95 on Wednesday, its lowest since Mar 23 and down 27 per cent from that peak.
DBS, which is also Southeast Asia’s biggest bank, said in a statement that DBS Physical Gold Tokens will be available through its digibank app in the second half of 2026.
It said the offering would be the first in Singapore to let retail customers digitally access, hold and trade tokenised physical gold through a single platform.
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