According to CoinMeta, the Monetary Authority of Singapore (MAS) has announced the launch of a central bank gold custody service with a capacity of up to 500 tons, aimed at meeting the global demand for diversified storage of gold reserves. MAS Chairman Yong Yat Lim stated that Singapore has no intention of replacing other gold centers, and as countries' demand for gold as a reserve asset grows, central banks are also seeking more options to enhance the resilience of their gold reserves. The MAS will provide gold custody accounts to precious metals banks that have operations in Singapore and possess the relevant professional capabilities.