Singapore is planning to launch a gold clearing system by the end of this year, with major banks like JPMorgan Chase and Deutsche Bank expected to participate. This initiative aims to position the city-state as a central hub for the global gold market. The Singapore Exchange will establish an over-the-counter clearing mechanism by the end of 2026, with interbank trading set to commence gradually starting next year. AI
RANK_REASON Significant financial infrastructure development involving major global banks. [lever_c_demoted from significant: ic=1 ai=0.1]
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