Nature of Stablecoins

What are some examples of stablecoins that are considered DPTs by the MAS?


  • MAS considers USDC and Tether to be DPTs.

    According to MAS (FAQs)
    last revised on 7 March 2022

    USD Coin and Tether are examples of SCS which, based on their characteristics today, are considered DPTs. Entities which provide DPT services will be regulated accordingly under the PS Act. Requirements applicable to entities that provide DPT services, such as the relevant risk disclosure requirements under PSN08, would thus apply. Entities providing services relating to stablecoins should also consider if their activities and products may be caught under other regulatory requirements such as those under the SFA.