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Singapore bank DBS to offer tokenized gold to retail customers
Key takeaways
- The bank will tokenize, issue, distribute and manage the physical gold tokens entirely in-house, backed by trusted bank-grade infrastructure.
- The move builds on a growing trend towards blockchain-based versions of real world assets (RWAs).
- In 2025, DBS tokenized structured notes on Ethereum and listed sgBENJI, the token of Franklin Templeton’s tokenized money market fund, alongside the Ripple's RLUSD dollar-pegged stablecoin.
DBS said it will list the product, called DBS Physical Gold Tokens, on its digibank platform and is also considering making it available on the DBS Digital Exchange (DDEx), which is tailored for accredited investors and institutions.
The bank will tokenize, issue, distribute and manage the physical gold tokens entirely in-house, backed by trusted bank-grade infrastructure. Each token is backed by 1 gram of physical gold held by DBS in a dedicated vault in Singapore, the bank said in a statement.
The move builds on a growing trend towards blockchain-based versions of real world assets (RWAs). The size of physical gold holdings in the portfolios of wealthy clients of DBS has more than doubled over the past three years.
Article preview — originally published by CoinDesk. Full story at the source.
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