According to CNBC, the Monetary Authority of Singapore (MAS) launched gold custody services for foreign central banks and sovereign entities on Tuesday, with an initial capacity of 500 metric tons. The report also stated that Singapore plans to offer tax exemptions for certain wholesale gold-related services; the previously announced physical gold clearing system is expected to launch in the first quarter of 2027. The 500 tons refers to custody capacity, not the actual amount of gold currently deposited.