DBS Bank launches tokenized gold for retail investors in 2026
In brief
- DBS Physical Gold Tokens launch H2 2026 for retail investors
- Each token backed by 1 gram of physical gold in Singapore vault
- Tokens listed on digibank platform; DDEx listing under consideration
- DBS manages tokenization, issuance, and distribution in-house
- Expands physical gold access beyond institutional and accredited investors
Product Launch and Distribution
DBS Physical Gold Tokens will be listed on the bank's digibank platform and is also considering availability on the DBS Digital Exchange (DDEx). DBS will tokenize, issue, distribute and manage the physical gold tokens entirely in-house, backed by trusted bank-grade custody and security protocols.
The decision reflects growing demand. Physical gold holdings in the portfolios of wealthy DBS clients have more than doubled over the past three years, signaling strong appetite for the asset class among the bank's customer base.
Expanding Access Through Tokenization
While our retail investors have been able to buy gold funds, access to physical gold has been largely available to only institutional and accredited investors. 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.
James Tan, head of DBS' investment product and advisory unit, framed tokenization as a democratization tool. The bank's previous offerings were limited to institutional and accredited investors; retail customers had access only to gold funds, which differ from direct physical holdings.
Track Record in Digital Assets
DBS has already moved into tokenized finance. In 2025, DBS tokenized structured notes on Ethereum and listed sgBENJI, Franklin Templeton's tokenized money market fund token. The physical gold token launch extends this strategy into commodities, positioning DBS as a bridge between traditional wealth management and blockchain-based asset infrastructure.
