Digital investments up as banks explore virtual wealth conversations

Singapore

NOT only has the volume of e-commerce and peer-to-peer digital transactions grown as Singaporeans hunker down in their homes, banks here have also recorded spikes in applications for investment products online over the past months.

At UOB, for example, online gold purchases grew more than 20 times in March, compared with the year before. This mirrors the global rush for gold, which is often regarded as a hedge against the wealth-withering effects of inflation.