SingaporeThe national currency vault can now hold 500 tonnes of foreign central-bank gold.
It challenges London and New York as custodians of reserve gold.
Asia buys roughly 70% of consumer gold, Deputy Prime Minister Gan Kim Yong said, yet its trading infrastructure lags demand.
Hong Kong began a trial gold-clearing system in July.
The Singapore Exchange and six clearing banks plan to start over-the-counter gold clearing in the first quarter of 2027.
How each outlet framed it
- TRT World
- cites the 500-tonne initial capacity against 2,000+ tonnes existing commercial vaulting, and Gan Kim Yong's claim that Asia takes about 70% of consumer gold demand
- South China Morning Post
- ties the launch to Hong Kong's July gold clearing trial as a competing bid for bullion-hub status
Sources: TRT World, South China Morning Post