Singapore Launches Gold-Vaulting Services to Build Regional Trading Hub

The Monetary Authority of Singapore (MAS) launched gold-vaulting services on November 10, 2026, aiming to establish the city-state as Asia's premier gold-trading hub. The new service enables foreign central banks, sovereign entities, and international institutions to store bullion reserves in Singapore's national currency vault, which begins with a capacity of 500 metric tons.

To support the wholesale market, MAS and the Ministry of Finance of Singapore introduced a tax framework that extends goods-and-services-tax waivers for institutional services, including refining, assaying, and broking. Deputy Prime Minister Gan Kim Yong stated that developing the gold market is an extension of the city-state's role as a trusted financial centre and provides an additional option for central banks seeking alternative venues for their reserves.

Singapore is also developing an over-the-counter gold-clearing system in partnership with the Singapore Exchange and six founding banks, including DBS and J.P. Morgan. Live trading and market operations for this system are expected to commence in the first quarter of 2027, followed by the launch of physically deliverable gold kilobar futures in the second quarter of 2027.