Thai Commercial Bank Launches Gold Marketplace on Mobile App
Thai Commercial Bank launched a gold trading marketplace on its SCB Easy app, partnering with three dealers to let over 17 million users buy and sell gold in fractional amounts starting from as little as 0.05 ounces.
Thai Commercial Bank has launched the SCB Gold Marketplace feature on its SCB Easy app in partnership with three major gold dealers: Hua Seng Heng, MTS Gold, and YLG. The platform connects the bank's expertise in gold markets with over 17 million SCB Easy users, allowing customers to buy and sell gold from all three dealers through a single interface while comparing prices and choosing their preferred provider.
The service supports 99.99% and 96.5% pure gold, tradable through e-FCD accounts in US dollars, starting from as little as 0.05 ounces (approximately 5,000 baht for 99.99% gold or 3,000 baht for 96.5% gold). Trading runs from 7 a.m. to 3 a.m. the following day. Customers can hold gold in digital form, pick it up at partner locations, or request home delivery depending on each provider's terms. The fractional-ounce feature allows new investors to start with modest amounts and build holdings gradually.
Sarathchat Rattanaprorn, Chief Executive Officer of Thai Commercial Bank, stated that the bank is advancing its role from financial service provider to trusted partner and wealth platform, leveraging digital technology to deliver seamless investment opportunities in transactions, asset management, and long-term wealth creation.
Patrick Poolja, Head of Financial Markets at Thai Commercial Bank, identified three key factors driving the platform's development: growing mobile investment adoption, rising interest in dollar-denominated assets, and demand for risk diversification amid global economic volatility. Thailand ranks first in gold trading volume among Southeast Asian nations and in the top 10 globally, with daily trading values exceeding 250 billion baht, reflecting the market's strength and investors' appetite for accessible investment channels. Trading gold through dollars also allows investors to separately manage currency exchange risk while keeping US dollar balances available for other dollar-denominated investments.
Thippa Nawawattanatorp, Chief Executive Officer of YLG Group, noted that gold investors are expanding into younger and working-age demographics. YLG data shows nearly 68% of customers using digital channels are aged 40 or under, reflecting how fractional and digital gold are making the asset more accessible to younger investors aligned with modern digital-first investing habits.
