Singapore will allow foreign central banks and sovereign entities to store their gold reserves in the country from October as the city-state seeks to strengthen its position as a regional center for gold trading and storage. - VnExpress International
- Singapore is enhancing its position as a regional gold hub by offering gold storage services to foreign central banks and sovereign entities starting October.
- This initiative includes secure storage, gold accounts, and aims to connect reserve assets with market liquidity during Asian trading hours.
- Further measures include an OTC gold clearing system by end-2026 and expanded interbank trading from 2027, with six major banks joining as clearing members.
Topics: Asset types, Jurisdictions, Institutional adoption, Alternative assets, Established hubs, Asset manager initiatives
Tags: #singapore #goldreserves #centralbanks #sovereignentities #goldtrading #storageservices #monetaryauthorityofsingapore #worldgoldcouncil #otcgoldclearing #bullionbanks
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