[Singapore Launches Central Bank Gold Custody Service; Vault Capacity Reaches 500 Tons] BlockBeats reports that on November 10th, Singapore launched a gold custody service for overseas central banks and official institutions, aiming to capitalize on global demand for diversified gold reserve storage. The Monetary Authority of Singapore (MAS) stated in a statement on Tuesday that the gold will be stored in the National Currency Vault. The vault currently has a capacity of 500 tons and can be expanded as demand grows. MAS Chairman and Deputy Prime Minister Gan Kim Yong stated, "Singapore has no intention of replacing other gold centers or gold custody services. As the demand for gold as a reserve asset increases globally, I believe central banks are also seeking alternatives and seeking more options to enhance the resilience of their gold reserves." The statement also noted that the MAS will provide gold custody accounts to certain precious metals banks with operations in Singapore and the relevant expertise. [Original Link]