SIO-4.2.1
A stablecoin issuer must at all times, have net shareholders equity equal to higher of the following:
(a) the initial paid-up share capital (base capital) requirement referred to in Paragraph SIO-4.1.1; or
(b) an amount equal to 50% of total operating expenses as reported in the preceding year’s annual financial statements subject to the adjustments specified in Paragraph SIO-4.2.3.
For the purposes of SIO-4.2.1(b), the total operating expenses for newly licensed stablecoin issuer (less than one year of operation) shall be their projected annual operating expenses.
Added: July 2025