MAS Stablecoin Regulatory Framework regulation
Overview
Singapore's stablecoin regulatory framework was finalised by the Monetary Authority of Singapore on 15 August 2023 and covers single-currency stablecoins pegged to the Singapore dollar or a G10 currency and issued in Singapore. It introduces stablecoin issuance as a regulated activity, with obligations covering full reserve backing at 100% or more of tokens in circulation, redemption at par, minimum capital, and disclosure through a mandatory white paper. Issuers that satisfy every requirement may apply to MAS for their tokens to be recognised and labelled "MAS-regulated stablecoins," a label intended to help users distinguish them from other digital payment tokens.
Within the DeFi Intel graph, MAS Stablecoin Regulatory Framework connects to 9 tracked entities, most strongly to Monetary Authority of Singapore, Mas, Singapore.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 9 of 9 total).
| Relation | Connected entity | Confidence |
|---|---|---|
regulates | Monetary Authority of Singapore | 95% |
supervises | Mas | 95% |
applies_in | Singapore | 95% |
complies_with | USD Coin | 90% |
complies_with | PayPal USD | 90% |
complies_with | Global Dollar | 90% |
complies_with | XSGD | 90% |
complies_with | StraitsX XUSD | 90% |
applies_in | Singapore | 85% |
Frequently asked questions
Who administers Singapore's stablecoin framework?
The Monetary Authority of Singapore (MAS), which finalised the framework on 15 August 2023.
What is the "MAS-regulated stablecoin" label?
A designation that issuers meeting all framework requirements can apply for, allowing users to distinguish compliant stablecoins from other digital payment tokens.
Which currencies can a regulated single-currency stablecoin be pegged to?
The Singapore dollar or any G10 currency.
Sources
Facts on this page were verified against the following sources.