DBS Bank to launch tokenized physical gold through its digibank app

DBS Bank, the biggest lender in Singapore, is preparing to offer tokenized physical gold to everyday retail customers. The product, called DBS Physical Gold Tokens, will be available through the bank’s digibank mobile app in the second half of 2026.

Each token will represent ownership of 1 gram of physical gold. That’s a deliberate design choice: it means you don’t need to buy an entire bar to get exposure to the metal.

What DBS is actually building

DBS is taking its existing bullion services, which have traditionally catered to wealthier clients, and repackaging them on a blockchain so retail investors can participate with smaller amounts. The tokens are also expected to offer enhanced liquidity compared to holding physical bars in a vault.

DBS hasn’t disclosed which blockchain will underpin the gold tokens, nor has it detailed the custody arrangements or redemption processes.

DBS launched the DBS Digital Exchange, known as DDEx, back in 2021, initially serving accredited and institutional clients. It later added crypto trading capabilities directly within the digibank app. More recently, DBS issued tokenized structured notes on Ethereum in August 2025.

The Singapore tokenization race is heating up

DBS isn’t operating in a vacuum here. OCBC, Singapore’s second-largest bank, beat it to the punch by launching GOLDX, its own tokenized physical gold fund, back in April 2026. GOLDX runs on both Ethereum and Solana, giving it multi-chain availability from the start.

What this means for investors

Investors will want to understand the custody chain: who holds the physical gold, where it’s stored, and how it’s audited. They’ll want clarity on redemption: can you actually take delivery of physical gold if you accumulate enough tokens, or is this purely a financial exposure product?

OCBC’s decision to deploy on both Ethereum and Solana sets a multi-chain standard that DBS may need to match or explain why it chose differently.