Singapore is making a serious play to become the gold trading capital of Asia, and it’s bringing some heavy hitters along for the ride.
The Monetary Authority of Singapore (MAS) and the Singapore Bullion Market Association (SBMA) announced plans to build a dedicated gold-clearing system designed to handle over-the-counter settlement for large gold bars and kilobars. The initiative, unveiled on March 27, is part of a broader push to deepen liquidity in Singapore’s precious metals market while meeting international standards for vaulting and logistics.
The working group assembled to make it happen includes JPMorgan Chase Bank, UBS AG, DBS Bank, ICBC Standard Bank, UOB, SGX, and the World Gold Council.
What Singapore is actually building
The Gold Market Development Working Group was formed in January 2026 with a clear mandate. The focus for this year spans three core areas: building a clearing system for OTC gold settlement, developing capital-market products to boost liquidity, and establishing vaulting and logistics standards that meet international benchmarks.
