DBS to bring tokenized, physically backed gold to retail clients in H2 2026
Singapore’s largest bank, DBS, is set to roll out tokenized physical gold to retail customers in the second half of 2026, further expanding a tokenization strategy that already includes tokenized money market funds and stablecoin services.
Called DBS Physical Gold Tokens, the product will be offered via the bank’s digibank platform. Each token will represent one gram of physical gold securely stored in a dedicated DBS vault in Singapore, and DBS says it will handle issuance, distribution, management and custody using its own infrastructure. The bank is also evaluating a potential future listing on its DBS Digital Exchange (DDEx), which today serves accredited and institutional investors.
Why it matters
- Retail access to physical gold: Direct ownership of physical bullion has traditionally been the preserve of wealth and institutional clients. DBS says physical gold holdings in its wealth portfolios have more than doubled over the past three years, and the token aims to broaden retail access to the asset class.
- Tokenization continuity: The launch builds on a series of blockchain-based offerings from DBS. In 2025 the bank tokenized structured notes on Ethereum, and later partnered with Franklin Templeton and Ripple to bring tokenized money market fund products (sgBENJI) and a stablecoin (RLUSD) to DDEx users.
- Potential utility: DBS previously flagged plans to let clients use tokenized fund units as collateral for financing arrangements — including repo and lending structures where DBS would act as custodian — signaling how tokenized assets might plug into wider financing and liquidity workflows.
“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,” said James Tan, head of investment products and advisory at DBS. “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.”
Context for crypto markets
The move highlights a continued institutional push to bring real-world assets onto blockchains and make them accessible to a broader investor base. Tokenized bullion combines the appeal of physical backing with blockchain-native features such as fractional ownership and potentially faster, more transparent settlement — while custody and regulatory oversight remain central to bank-led offerings.
DBS is targeting the second half of 2026 for rollout, marking a major step in bringing a traditionally exclusive physical asset to retail investors via tokenization.
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