The Monetary Authority of Singapore (MAS) has had meetings with lenders over recent months to assess the potential of the city-state as a physical trading hub, according to people familiar with the matter. DBS, UOB and OCBC confirmed they have been working with the MAS to support the growth of a Singapore gold market. “Since last year, MAS has been actively working with key gold market participants to look at ways to support the growth of the gold market in Singapore,” said a spokesperson for MAS. UOB is the only Singaporean lender offering physical gold sales and vault services to retail customers. OCBC, meanwhile, has said it is exploring a custody business for institutional and wealthy clients’ physical gold.

Source: The Edge Markets March 03, 2026 04:39 UTC