Singapore's Monetary Authority of Singapore (MAS) has announced the release of a revised regulatory framework to guide single-currency stablecoin (SCS) issuers.

Framework ensures stability for SCSs tied to Singapore dollar or G10 currencies, highlighting several conditions for participants including value stability, having a minimum base capital and liquid assets, redemption at par, and appropriate disclosures to users.

Issuers' valuation of their reserve assets have to be at least 100% of SCSs in circulation at all times. 

The bank's deputy managing director of financial supervision, Ho Hern Shin, said the framework's purpose is to encourage the use of stablecoins as a bridge between fiat and digital assets, advising issuers to prepare for compliance.

The revised policy incorporates feedback from an October 2022 public consultation.