Singapore launches vault with capacity of up to 500 tons… clearing transactions expected in Q1 2027

Singapore’s Monetary Authority (MAS) launched a gold custody service for foreign central banks, international financial institutions and sovereign entities, with vault capacity of up to 500 tonnes at the national currency vault and bullion held on an allocated, individually identified basis. MAS will also extend custody accounts to some Singapore-based bullion banks, and is pursuing GST exemption for certain inter-institutional wholesale gold services alongside an over-the-counter gold clearing framework. The actual amount of gold deposited was not disclosed, with the 500-tonne figure representing maximum facility capacity. MAS expects live clearing trades by the first quarter of 2027. The move positions Singapore as a rival vaulting hub to London, New York and Zurich for official-sector reserves; next milestones are the clearing framework’s final design and take-up by central banks.