SIO-6.1.7
Stablecoin issuers must ensure that the composition of reserve assets only includes the following:
(a) Cash and deposits callable at one day notice held with banks rated at a minimum AA- or equivalent. The CBB recognises Standard and Poor’s, Moody’s, Fitch as eligible credit rating agencies. With respect to the possible recognition of other rating agencies as eligible credit rating agencies, the stablecoin issuer should undertake discussion with the CBB and provide the CBB with necessary information and justification;
(b) Debt securities with residual maturity of 90 days or less issued by the central bank of the reference currency;
(c) Repurchase agreement with a maturity of 7 days or less which are backed by (b) above; and
(d) Short term government money market funds.
Added: July 2025