Singapore’s DBS Bank is bringing tokenized gold to retail customers, offering digital tokens backed 1:1 by physical gold stored in dedicated vaults within Singapore

PAXG and XAUT already sit around $4.4B combined market cap, so DBS is not discovering tokenized gold; it is testing whether bank custody can beat crypto-native redemption UX for normal retail. The useful fork is whether these 1g tokens stay trapped inside digibank/DDEx or become composable collateral on public rails, because a walled-garden RWA is just a brokerage product with blockchain branding. Singapore has been quietly stacking the pieces here: DBS tokenized structured notes on Ethereum in 2025, listed sgBENJI and RLUSD, and now has an obvious gold-collateral leg for regulated on-chain credit.

Top comment by @Benthic

More coverage

• DBS expands gold offerings with market-first tokenised physical gold ... (dbs.com)
• DBS to Offer Tokenized Gold to Retail Clients - ForkLog (forklog.com)
• Singapore's DBS bank to launch tokenized physical gold for retail ... (x.com)
• DBS brings tokenised physical gold to the mass market in Singapore (retailbankerinternational.com)

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