DBS has increased its gold storage capacity in Singapore in response to rising demand from private wealth and institutional clients. The move comes as Singapore prepares to launch a domestic over-the-counter gold clearing system later this year, a project in which DBS is one of six participating clearing banks.
Key Facts At A Glance
- DBS has expanded its gold storage capacity in Singapore, driven by demand from private wealth and institutional clients
- The expansion was disclosed on September 17, 2026
- Singapore is preparing to introduce a domestic OTC gold clearing system for Loco Singapore gold through the Singapore Exchange (SGX)
- The clearing system was first announced in June 2026 and is expected to launch by the end of 2026
- DBS is one of six banks, alongside Deutsche Bank, ICBC Standard Bank, J.P. Morgan, OCBC and UOB, signed on as clearing members
- The Monetary Authority of Singapore separately plans to offer central bank gold vaulting services to foreign central banks and sovereign entities by October 2026
- Singapore already hosts more than 2,000 tonnes of commercial gold vaulting capacity
DBS has moved to expand its physical gold storage capacity in Singapore, citing growing demand from private wealth and institutional clients. The specific scale of the expansion, in tonnage or investment terms, has not been publicly disclosed.
The timing places the move within Singapore’s broader push to formalize itself as a regional gold trading and settlement hub. In June 2026, the Singapore Exchange’s plan to establish an over-the-counter clearing system for Loco Singapore gold, physical gold stored and settled within the country, was announced, with a target launch by the end of 2026 and interbank trading expected to build from 2027. DBS is one of six banks, alongside Deutsche Bank, ICBC Standard Bank, J.P. Morgan, OCBC and UOB, that signed on as clearing members for the new system.
Alongside the clearing system, central bank gold vaulting services are set to launch by October 2026, giving foreign central banks and sovereign entities a secure option to store gold reserves domestically. That service is intended to complement the more than 2,000 tonnes of commercial vaulting capacity already available in Singapore through existing providers.
Regional context suggests banks are positioning for higher gold-related activity ahead of the clearing system going live. DBS has separately been expanding its broader gold offering this year, including plans announced in June to offer tokenized physical gold to retail and institutional clients. OCBC, another of the six clearing banks, has also broadened its own gold-linked products for institutional clients.
Publicly available detail on the specific storage expansion remains limited at this time.