DBS Offers Digital Gold to Customers

DBS, Singapore's largest bank, will offer digital gold to its customers.

Gold is still in demand despite price changes. It reached a record high of $5,600 per ounce due to inflation and market concerns, but its price has since dropped to $4,111.95.

DBS will launch its digital gold service through its app in the second half of 2026.

This service will be the first in Singapore to allow customers to buy, hold, and trade digital gold easily.

Tokenisation means turning a real asset into a digital token that can be traded online.

Each digital token will be equal to one gram of real gold stored in a secure vault in Singapore, worth about $200.

Customers can buy small amounts of gold, trade at any time, and exchange their digital tokens for real gold.

DBS says gold has become a popular investment in recent years, and digital tokens will make it easier for people to invest in gold.

DBS plans to list its digital gold token on its exchange for big investors and partners.

The amount of gold held by DBS' wealthy clients has more than doubled in the last three years.

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