OCBC expands precious metals app offerings to include platinum and palladium
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Singapore's second-largest bank OCBC has expanded its precious metals offering on its mobile app to include platinum and palladium bullion.Announcing this in a media release on Tuesday (Aug 11), OCBC said this will provide its retail customers with a lower enOCBC expands precious metals app offerings to include platinum and palladium
Singapore's second-largest bank OCBC has expanded its precious metals offering on its mobile app to include platinum and palladium bullion.Announcing this in a media release on Tuesday (Aug 11), OCBC said this will provide its retail customers with a lower entry point and greater choice to diversify within the asset class.«These new additions build on the bank’s existing digital gold and silver capabilities, which have been available to retail customers since October 2021,» it said.Prior to OCBC's move, the two precious metal types, despite being globally traded, were limited to affluent customers.OCBC's mass retail customers can now invest in platinum and palladium bullion digitally from as little as 0.01 ounces, priced at about S$23 for platinum and S$18 for palladium as of Aug 7.Head of OCBC's group wealth management, Tan Siew Lee, said in a statement that the bank is strengthening its position as a leading wealth management player and as the go-to bank for precious metals. Read more
