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FROM INTELLIGENT GOLD DEPOSITS TO DIGITAL GOLD COMMERCE: LAO BULLION BANK’S NEXT CHAPTER OF INNOVATION

By LAO BULLION BANK

Innovation has long been the driving force behind the evolution of the global bullion industry. As digital technologies continue to reshape financial services and precious metals markets, institutions are increasingly challenged to rethink how gold is traded, managed and accessed by investors and the wider community.
Lao Bullion Bank’s long-term vision extends beyond providing bullion banking services. It is committed to building a trusted and inclusive gold ecosystem that captures greater value from Laos’ abundant precious metal resources by bringing household gold, gold collected by artisanal miners and gold produced by large-scale mining operations into a transparent and accountable financial system. Through internationally aligned refining standards, including the production of 99.99% purity gold, and by strengthening traceability, market participation and regulatory confidence, Lao Bullion Bank aims to support the modernisation of Laos’ gold industry while expanding the country’s role within the regional and global bullion ecosystem.

Introducing the Automated Gold Deposit Machine

The Automated Gold Deposit Machine – Lao Bullion Bank’s latest milestone in bullion innovation – builds on the success of the Automated Gold Vending Machine. Together with the enhanced LBB PLUS digital platform, these developments represent another significant step towards modernising the bullion industry in Laos and advancing the country’s digital precious metals infrastructure.
When Lao Bullion Bank introduced the Automated Gold Vending Machine, it marked a significant milestone in modernising the gold retail market in Laos. By enabling customers to conveniently purchase certified investment-grade gold bars through a secure and automated process, the bank redefined how people could access physical gold, bringing together technology, convenience and trust for the first time in the local market.
Gold certificate of Lao Bullion Bank.
The Gold Vending Machine’s successful launch did more than transform the purchasing experience — it gave Lao Bullion Bank valuable insight into the changing investment habits and expectations of the Lao people.
As more customers embraced gold as a long-term store of value, Lao Bullion Bank recognised that their needs extended beyond simply buying gold. Investors were increasingly seeking a secure, transparent and convenient way to deposit, verify, and manage their gold holdings while seamlessly connecting their physical assets with digital financial services.
These insights, together with its commitment to continuous innovation, led Lao Bullion Bank to develop the Automated Gold Deposit Machine – an innovation designed to modernise one of the most traditional and time-consuming aspects of the precious metals industry. The machine combines advanced gold verification technology with digital account integration to transform the deposit process into a seamless, secure and efficient experience.

Strengthening the digital gold ecosystem

Gold certificate of Lao Bullion Bank.
Lao Bullion Bank has also enhanced LBB PLUS, its integrated digital platform, with a range of new features designed to make gold ownership, investment and financial management more convenient, accessible and interconnected.
e-Gold Certificate: This secure digital certificate serves as official proof of ownership for customers’ gold holdings at Lao Bullion Bank. In addition to verifying the authenticity and quantity of customers’ gold assets, the certificate can also be used as collateral when applying for loans and other financing facilities with Lao Bullion Bank’s partner banks and participating financial institutions. This allows customers to unlock the value of their gold assets without having to sell their holdings, providing greater financial flexibility while preserving their long-term investments. To make this service more accessible, Lao Bullion Bank has integrated the e-Gold Certificate request function into the LBB PLUS platform. Previously, customers were required to visit the Lao Bullion Bank head office to request a physical gold certificate at the customer service counter. Customers can now request and receive their e-Gold Certificate digitally through the app, anytime and anywhere.
Gold Trading: This feature enables customers to manage their gold investments directly through the LBB PLUS platform. Users can buy additional investment-grade gold, sell part or all of their gold holdings based on market conditions, or choose to withdraw their digital gold as certified physical gold bars or receive the equivalent cash value whenever required.
Gold Marketplace: An integrated digital marketplace that connects customers with participating gold merchants. In Laos, purchasing gold jewellery has long been more than a retail transaction; it is deeply rooted in the country’s culture and financial habits. Many Lao families buy gold jewellery not only for personal adornment, but also as a trusted way to preserve wealth, celebrate important milestones such as weddings and traditional ceremonies, and pass assets from one generation to the next. The Gold Marketplace lets customers convert their digital gold directly into jewellery through participating merchants.
Dollar-Cost Averaging (DCA) Gold Savings: For investors who prefer a disciplined, long-term approach to wealth accumulation, this feature allows customers to create personalised recurring gold investment plans by selecting their preferred investment amount, purchase frequency, and investment duration, making it easier to build their gold portfolio gradually through regular, automated investments.
At the end of their savings plan, customers have the flexibility to decide how they would like to utilise their accumulated gold. They may choose to continue growing their investment through a new savings plan, withdraw their holdings as certified physical gold bars, or redeem their accumulated gold to purchase selected jewellery through the Gold Marketplace.

Building the Future of Bullion Banking

The launch of the Automated Gold Deposit Machine, together with the continued evolution of LBB PLUS, represents far more than the introduction of new banking services. These innovations are key building blocks in Lao Bullion Bank’s long-term strategy to establish a fully integrated bullion ecosystem – one where physical gold, digital technology, financial services, and market infrastructure work together to create greater value for customers, businesses and the nation. The Automated Gold Deposit Machine, the Automated Gold Vending Machine, and the enhanced LBB PLUS platform are not standalone innovations; together, they form the foundation of a more connected bullion market designed to recapture the value of Laos’ precious metals within the country while expanding opportunities for responsible investment, efficient trading, and long-term wealth preservation.
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Mr Bernard Sin

Regional Director, Greater China
MKS PAMP (Singapore) Pte Ltd
Regional Director of Greater China since 2020, and previously Head of Trading. Bernard joined MKS PAMP as a country representative of Singapore in 1996 and moved to Switzerland in 1997. He holds an MBA in International Business from the European University in Geneva. Prior to joining MKS PAMP, Bernard worked 6 years for Standard Chartered Bank in Singapore and Hong Kong as an FX and Bullion Dealer.

Albert Cheng

Chief Executive Officer

Albert Cheng joined the World Gold Council in March 1993 as a Regional Manager, becoming Managing Director, Far East in 2003. He retired at the end of March 2015 and was subsequently named its Advisor. He has also been an International Advisor to the Shanghai Gold Exchange since 2002.

His marketing career began with Dentsu Young & Rubicam, Hong Kong in the early 80’s. He began gold marketing in July 1985 when he joined the Royal Canadian Mint as a Regional Manager for Southeast Asia.

He was appointed honorary CEO of SBMA in November 2015. He is responsible for the success and strategic development of SBMA in partner with the Chairman and the Management Committee. Also, he is responsible for maintaining accountability to and the quality of, the Association’s Membership and the annual Asia Pacific Precious Metals Conference (APPMC) as well as representing the interests of the Association in relation to regulators, investors, media and international precious metal markets, and also responsible for all the legal and regulatory aspects of the work of the Association.

Margaret Wong

Executive Director – Head of Operations

Margaret Wong, Executive Director – Head of Operations at SBMA (Singapore Bullion Market Association), brought valuable experience from her previous role at the World Gold Council (WGC). Her tenure at WGC provided her with extensive exposure to the gold community in Singapore and the broader region. This background has been instrumental in establishing strong working relationships within the industry.

Margaret’s role at SBMA encompasses a diverse range of responsibilities. She oversees office management, business support processes, finance, and administrative functions essential for the smooth operation of the team and management committee. Additionally, Margaret handles membership matters, member communications, and addresses public inquiries related to SBMA.

One of Margaret’s key responsibilities is coordinating with the Event Management Company for SBMA’s prestigious annual event, the Asia Pacific Precious Metals Conference. This flagship conference plays a crucial role in the industry, making her involvement pivotal in its success.

Described as resourceful and self-motivated, Margaret Wong brings a wealth of skills and experience to her role at SBMA, ensuring efficient operations and effective engagement within the precious metals community in Singapore and beyond.

SBMA Secretariat-Fabian-Lew

Fabian Lew

MARKETING & COMMUNICATIONS OFFICER

Fabian was a Business Development and Marketing Associate before joining SBMA. He graduated from Singapore Management University with a Bachelor’s degree in Economics.

He has joined SBMA since February, 2022.

Ms Crystal Xu

Vice President
TD Securities
Based in Singapore, Crystal has over a decade of experience in the metals market, specializing in trading, structuring, and delivering solutions for institutional and commercial clients across Asia. She leads initiatives spanning both physical and derivative products and plays a central role in advancing TD’s regional metals strategy. With deep expertise in market dynamics and strong cross-functional collaboration, she helps drive business growth, product innovation, and risk-informed decision making across the firm’s Asia-Pacific platform.

SECRETARIAT SBMA Clara-Chang

Clara Chang

MARKETING & COMMUNICATIONS EXECUTIVE
Clara Chang joins SBMA as the Marketing & Communications Executive, enriching the team with her extensive experience in content creation, social media management, and digital marketing. Prior to joining SBMA, Clara held the position of Marketing Executive at her previous job. She holds two bachelor’s degrees from the University at Buffalo, one in International Trade and another in Geographical Information Science. Her core duties will include maintaining the SBMA website, managing the quarterly Crucible newsletter, among other responsibilities.

SECRETARIAT SBMA-Emily-Oh

Emily Oh

OPERATIONS & ADMIN EXECUTIVE
Emily Oh is the Operations & Admin Executive, a seasoned professional who values teamwork and effective communication. She is skilled at adapting to new challenges and takes a proactive and resourceful approach to every task. Before joining SBMA, Emily had experience coordinating international travel arrangements and spearheading community initiatives. Her role at SBMA will be providing operational and administrative support for projects and other matters to the team.

Singapore Bullion Market Association Secretariat-Lee-Jia-Yi

Lee Jia Yi

OPERATIONS & ADMIN EXECUTIVE
Before joining SBMA, Jia Yi worked as an Admin & Reporting Officer in her previous role. She holds a Diploma in Business & Social Enterprise from Ngee Ann Polytechnic. Jia Yi is responsible for managing and maintaining physical and digital files in SBMA, supporting invoicing processes, reconciling receivables and payables, coordinating meetings and conferences. Additionally, she will provide support to the team and assist the Business Director in managing the Association’s office operations and general administrative activities.

Ms Pawan Nawawattanasub

Ms Pawan Nawawattanasub

CEO
YLG Bullion Singapore Pte Ltd

Pawan is the CEO of YLG Bullion Singapore and founder of YLG Bullion International. She has almost 40 years of experience in the jewellery industry and established YLG in Thailand in 2003. In 2012, she brought YLG to Singapore. She sits on the Board of Directors of the Thailand Gold Traders Association, the Thailand Futures Exchange’s Arbitration Committee, and the Rotary Bangkok committee. She holds a master’s degree in Political Science.

SBMA-Shaokai-Fan

Mr Shaokai Fan

Head of Asia-Pacific (ex China) and Global Head of Central Banks
World Gold Council
Shaokai Fan is the Global Head of Central Banks at the World Gold Council, responsible for advising governments on gold matters, and enhancing the gold market through engagement, dialogue, and thought leadership. He works directly with central banks and sovereign wealth funds on investment considerations. Prior to this position, Shaokai held multiple roles at Standard Chartered Bank, including Director for Asia Strategic Initiatives and Associate-Director for Public Sector coverage. Shaokai holds a Masters of Public Administration from Columbia University and the London School of Economics, and an undergraduate degree in finance and economics from New York University.

SBMA-Committee-Alan-Liew

Mr Alan Liew

Head of Bullion & Commodities Trading
United Overseas Bank Limited
Alan is Head of Bullion and Commodities Trading for Group Trading in Global Markets, United Overseas Bank (UOB). Alan joined UOB and started the bank’s commodities trading business in 2014, previously he spent eight years in Standard Chartered Bank (SCB) trading both precious and base metals. During his tenure at SCB, he obtained the SGE gold trader licence and was part of the pioneering team for the SGE business and the FX quantitative trading team. Prior to trading, he worked for Monetary Authority of Singapore in the Financial Risk Management Division. He holds a BSc (Hon) in Computer Science at National University of Singapore and a MSc in Financial Engineering at Nanyang Technological University.

SBMA Committee-KL-Yap

Mr KL Yap

General Manager, Singapore Refining Business Unit
Metalor Technologies (Singapore) Pte Ltd
KL YAP is the General Manager of Metalor Technologies (Singapore) Pte Ltd’s Singapore Refining Business Unit. He joined Metalor in 2013, initially in Refining Sales. In 2014, he became Refining Business Unit Manager, leading the development of a new precious metal refinery. KL was Vice Chairman of SBMA from 2017 to 2021, now serving as Chairman. With a degree in business commerce, finance, and marketing, he brings prior experience from refinery and heavy industries.

SBMA Committee-Photo-Vinh-Nguyen

Mr Vinh Nguyen

Head of Precious Metals, Asia
StoneX APAC Pte Ltd

Vinh Nguyen joined StoneX Group in Singapore at the beginning of 2008 and responsible for its APAC precious metals activities since 2019 until now.

SBMA Committee-Photo-Kazuya-Naoki

Mr Kazuya Naoki

Managing Director – Head of Metals, Asia
ICBC Standard Bank Plc, Singapore Branch
Kazuya (Kaz) Naoki is the Managing Director – Head of Metals, Asia of ICBC Standard Bank in Singapore and is responsible for the precious & base metals sales and trading in the region. He joined Standard Bank Plc Tokyo Branch in 2008 and was relocated to its Singapore Branch in 2013 whose controlling stake was acquired by the Industrial and Commercial Bank of China in 2015. Prior to joining Standard Bank, Kaz spent 11 years focusing on commodity trading and risk management with Mitsui & Co in Tokyo, Sydney and London. Kaz has been serving on the SBMA Management Committee since 2016.

SBMA Committee-Photo-Andrew-Clarke

Mr Andrew Clarke

Head of Brink’s Global Services
Brink’s Global Services Pte Ltd

Andrew Clarke is the Head of BGS (Brink’s Global Services) for Singapore, Indonesia, Malaysia and Brunei. He has held various leadership positions throughout his career in secure logistics and risk management with Brink’s, which started in Hong Kong in 2010. Andrew relocated to Singapore in 2018 to expand the precious metals line of business along with Brink’s portfolio of services and industries.

SBMA Committee-Photo-Raman-Walia

Mr Raman Walia

Managing Director
JP Morgan Chase Bank N.A.

Raman is Managing Director for J.P. Morgan. He joined JPMorgan in 2008 in New York, moved to Singapore in 2011, and helped expand the precious metals business in the region. Raman has an MBA from Cornell University, and likes to travel in his spare time.

SBMA-Committee-khun nuttapong

Mr Nuttapong Hirunyasiri

CEO
MTS Gold Global Trading Pte Ltd
Nuttapong Hirunyasiri is the CEO of MTS Gold Group, one of Thailand’s top 10 companies and top 3 bullion companies. He started MTS Gold Group’s first overseas office in Singapore and has been expanding the group business internationally. He focuses on product development and innovation for gold investment, with the aim of being a leader in providing the full suite of gold investment services in the ASEAN region.

SBMA-Committee-Nikos

Mr Nikos Kavalis

Managing Director
Metals Focus Singapore Pte Ltd
Nikos Kavalis is a founding partner of Metals Focus. He has over 20 years of experience in precious metals, having previously worked for the Royal Bank of Scotland and GFMS. Since September 2019, Nikos has been based in Singapore, where he also runs the local subsidiary of Metals Focus.