A Singapore-based stablecoin issuer required MAS approval under the new Stablecoin Regulatory Framework to issue a SGD-pegged stablecoin compliant with MAS Notice PSN05.
CS — 009 · EMI / PSP
Stablecoin issuer — Singapore MAS
Stablecoin issuer — Singapore MAS
MAS stablecoin issuer framework approval + reserve banking.
Case Overview
Challenge
A Singapore-based stablecoin issuer required MAS approval under the new Stablecoin Regulatory Framework to issue a SGD-pegged stablecoin compliant with MAS Notice PSN05.
Approach
Engaged MAS pre-application for regulatory feedback, structured reserve management arrangements with a qualifying Singapore bank, and designed redemption and disclosure mechanisms per MAS requirements.
Outcome
MAS MPI (Stablecoin Issuance Service) approval granted. Reserve banking with a Singapore licensed bank established. Stablecoin went live with full regulatory standing.
Key Deliverables
MAS MPI (Stablecoin Issuance) licence
Reserve management framework
MAS Notice PSN05 compliance documentation
Redemption and disclosure policies
Milestones
01 / 04
Pre-application engagement
Months 1–2
02 / 04
Reserve structure design
Months 3–5
03 / 04
MAS application
Month 6
04 / 04
Licence granted
Month 12
Ready when you are
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operate.
Forty-five minutes with a partner. Jurisdiction memo within seven days. No retainer required to start.
45 min
First call with a partner.
No retainer required.
No retainer required.
