DBS brings gold on-chain: Singapore bank launches market-first tokenised physical gold

Singapore’s DBS has introduced a new way to access one of the world’s oldest safe-haven assets by bringing physical gold onto the blockchain. The bank announced that it will offer tokenised physical gold to customers in Singapore, marking a first-of-its-kind product in the local banking sector and further accelerating the shift toward real-world asset tokenisation in Asia.

The new offering will allow retail customers to buy, hold, and trade digital tokens that are directly backed by physical gold stored securely in a DBS vault in Singapore. Each token represents one gram of gold, giving investors fractional ownership of the metal at a relatively low entry point. At current indicative levels, this corresponds to roughly SGD 200 per token.

For retail users, access will be available via DBS digibank in the second half of 2026. The bank is also exploring a listing on DBS Digital Exchange for accredited investors and institutional participants, extending the product beyond retail distribution into broader capital markets infrastructure.

Unlike many tokenised commodity products that rely on third-party issuance or custody structures, DBS will fully manage the process in-house. This includes tokenisation, issuance, distribution, custody, and settlement, all underpinned by the bank’s existing regulated infrastructure. The goal, according to DBS, is to reduce operational friction while maintaining institutional-grade security and compliance standards.

The product is designed to address long-standing barriers in physical gold investing. Traditionally, direct ownership of bullion has been costly, operationally complex, and largely limited to institutional or high-net-worth investors. By enabling fractional ownership and 24/7 trading, DBS aims to make gold more accessible and liquid for a wider range of customers.

Investors will also benefit from near-instant settlement, reflecting the blockchain-based design of the system, and will have the option to redeem tokens for physical gold if desired. This hybrid structure combines the familiarity and perceived safety of physical bullion with the flexibility of digital assets.

The launch comes amid strong global demand for gold, which has recently reached record highs, driven by inflation concerns, geopolitical uncertainty, and portfolio diversification needs. At the same time, tokenisation of real-world assets has been gaining momentum, with industry estimates showing rapid growth in on-chain asset value across commodities, funds, and securities.

DBS positions the initiative as part of its broader digital asset strategy. In recent years, the bank has expanded its blockchain-based offerings, including tokenised structured notes and digital money market fund instruments. The introduction of tokenised gold adds another layer to its growing ecosystem of blockchain-enabled investment products.

According to DBS executives, the bank’s advantage lies in its ability to integrate physical vaulting, digital custody, and token issuance within a single regulated framework. This end-to-end structure is intended to provide trust and transparency while avoiding the fragmentation often seen in decentralized or multi-platform token systems.

With Singapore continuing to position itself as a global hub for precious metals trading and financial innovation, the move reinforces the city-state’s broader ambition to become a leading center for digital asset infrastructure in Asia.

As tokenisation moves from experimentation to mainstream financial products, DBS’s gold token initiative may become a key reference point for how traditional banks bridge the gap between physical assets and blockchain-based markets in the years ahead.

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