Business · Companies · 1 hr ago
Singapore launches 500-tonne gold vault for central banks
Singapore has launched a gold-storage service for foreign central banks, international financial institutions and sovereign entities.
The Monetary Authority of Singapore said the facility is in the city-state’s national currency vault and can hold up to 500 tonnes of gold, with room to expand.
The service is intended to give institutions a secure place to hold gold reserves in Singapore.
The move is part of Singapore’s effort to strengthen its role as a gold trading hub as demand for gold rises and institutions seek to diversify.
Singapore also plans to waive goods and services tax on some wholesale services between institutional participants, including vaulting, refining and broking.
The tax framework is expected to take effect in April next year, with more details due at Budget 2027.
The Singapore Exchange and six banks are preparing an over-the-counter gold clearing system, with live operations expected to start in the first quarter of next year.
Singapore launched a gold storage service for foreign central banks and other institutions on Tuesday.
The facility in the national currency vault can hold up to 500 tonnes of gold, with room to expand.
The Monetary Authority of Singapore said the service offers a secure option for holding gold reserves in Singapore.
The launch is part of Singapore’s effort to strengthen its position as a precious metals trading hub.
Singapore also plans to waive GST on some wholesale services related to investment precious metals, with the framework expected to take effect in April 2027.
- Who
- The Monetary Authority of Singapore launched the service. It is intended for foreign central banks, international financial institutions and sovereign entities.
- What
- Singapore launched a gold vaulting service with capacity for up to 500 tonnes.
- When
- Tuesday, Nov 10, 2026.
- Where
- Singapore, in the country’s national currency vault.
- Why
- Singapore aims to strengthen its position as a precious metals trading hub and offer institutions another secure place to hold gold reserves.
This story does not have two clearly opposing sides.
MAS said it would develop measures to strengthen Singapore's gold ecosystem.
MAS launched its gold vaulting service for central banks and other institutions.
Singapore Exchange and six banks are working to complete preparations for an over-the-counter gold clearing system.
The enhanced GST framework for some wholesale services related to investment precious metals is expected to take effect.
Live trading and market operations for the gold clearing system are expected to start.
- Vault capacity
- Up to 500 tonnes of gold
- Location
- Singapore’s national currency vault
- Intended users
- Foreign central banks, international financial institutions and sovereign entities
- GST framework
- Expected to take effect in April 2027
- Gold clearing system
- Singapore Exchange and six banks are preparing it for launch
5 sources
سنغافورة تطلق خدمة تخزين الذهب للبنوك المركزية في العالم
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Singapore Launches Gold Vaulting Service for Central Banks
MAS launches gold vaulting service with 500-tonne capacity, extends GST waiver to some gold services
What people are saying
Singapore does not aim to replace other gold centres and gold vaulting services
We are an additional option that is offered to the central banks
It will create good jobs and capabilities while adding depth and resilience to our financial sector, strengthening Singapore's role as a trusted connector between Asia and global gold markets
with a secure option to hold gold reserves in Singapore