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Singapore
MAS Stablecoin Regulatory Framework (SCS)
PassedRegulator(s): Monetary Authority of Singapore (MAS)Next review: 2026-08-08
Single-currency stablecoins (SCS) issued in Singapore, pegged to SGD or a G10 currency.
Framework finalised Aug 2023; MAS drafting dedicated legislation in 2026, expected in effect mid-2026. Until then, 'MAS-regulated stablecoin' label applies to compliant SCS issuers.
📋 Key Requirements
| Reserves | 100% reserves in peg currency: cash, cash equivalents, or government debt with residual maturity of 3 months or less; segregated reserve accounts |
|---|---|
| Redemption | Redemption at par within 5 business days |
| Capital | Minimum base capital and liquidity buffers; restrictions on unrelated commercial business |
| Attestation | Monthly independent attestations (published) plus annual audits |
| Licensing | Only compliant issuers may market tokens as 'MAS-regulated stablecoins' |
📅 Timeline & Upcoming Deadlines
🏛️ Licensed / Approved Issuers
StraitsX (XSGD/XUSD) →
View source ↗Compliant SCS issuer under framework