Singapore said it will introduce new market infrastructure for physical gold stored in the city-state, with Singapore Exchange planning to launch an over-the-counter clearing system for Loco Singapore gold by the end of 2026.

The planned clearing members are DBS, Deutsche Bank, ICBC Standard Bank, JPMorgan, OCBC and UOB. The Monetary Authority of Singapore said it will begin gold-vaulting services for central banks by October 2026.

MAS also said it will remove the 5% cap on physical investment precious metals under tax-incentive schemes for eligible funds and family offices. The measures were disclosed on June 15 as part of steps to expand Singapore’s precious metals market infrastructure.