Singapore launches a gold vaulting service for foreign central banks and other official institutions, using space in the city-state’s national currency vault. The Monetary Authority of Singapore (MAS) says the facility can store up to 500 tonnes of gold and can be expanded if demand grows.
The initiative is presented as part of Singapore’s wider effort to strengthen its position in precious metals trading and to meet global demand for bullion storage. Bloomberg frames it as an attempt to diversify storage of bullion reserves and to capture interest from overseas official institutions.
Channel NewsAsia adds that the announcement is accompanied by an extension of a GST waiver to some gold services, while also describing the same core offer: secure storage for central banks, international financial institutions, and sovereign entities. Across outlets, the emphasis is on capacity, who can use the service, and Singapore’s role in the bullion supply chain.
