Singapore Launches Gold Custody for Foreign Central Banks

Detailed summary

A national vault with capacity of up to 500 metric tons anchors the city-state’s push to develop gold storage and trading services ...

Singapore launched gold custody services for foreign central banks, international financial institutions and sovereign entities on Tuesday, offering storage in a national vault with capacity of up to 500 metric tons.

The Monetary Authority of Singapore (MAS) said the vault’s capacity could expand to meet demand. The authority will also offer gold custody accounts to selected bullion banks operating in Singapore to support their gold services and trading liquidity.

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