Edward Langley, founder and CEO of Aconomy, believes Singapore’s proposed stablecoin regulations could enhance consumer trust in digital assets. The Monetary Authority of Singapore (MAS) is seeking public feedback on these proposals, which aim to establish a licensing framework for stablecoins pegged to a single currency. The feedback period concludes on October 16, 2026.
The proposed amendments to the Payment Services Act 2019 would require licensed issuers to maintain reserves equal to the par value of their tokens in circulation. These issuers would also be obligated to allow holders to redeem tokens at par and would be prohibited from paying interest. For stablecoins not regulated by MAS, digital payment token service providers offering them to retail customers would need to provide reserve disclosures and risk warnings. They would also be restricted from marketing these tokens as stablecoins.
Ho Hern Shin, MAS deputy managing director for financial supervision, stated that the framework is designed to offer “clear regulatory guardrails for stablecoins that meet high standards of value stability.” Langley commented on the necessity of such regulations for everyday users. He noted that consumers often do not delve into reserve reports but need assurance that their tokens are backed and redeemable. Langley feels these rules correctly place responsibility on issuers and platforms to ensure this backing.
Langley’s career began in investment banking at Deutsche Bank before he transitioned to digital assets as Compliance Director at OSL Group. He established Aconomy in 2023. The company provides crypto payment cards, a digital-asset exchange, and crypto gift cards, with a primary focus on simplifying onboarding for users since its inception. Langley emphasized that clear regulations alone are insufficient to drive mainstream adoption; user experience is also critical.
“If you want digital assets to become part of mainstream financial life, you have to start with the customer experience,” Langley said. “The consumer shouldn’t have to understand the infrastructure in order to use the product.” He believes that making products easy to use is essential for integrating digital assets into daily financial activities. This focus on customer experience is a core tenet for Aconomy, a company aiming to make digital assets accessible without requiring specialist knowledge.
Singapore’s proposed rules follow similar regulatory actions in Hong Kong. The Stablecoins Ordinance became effective in August 2025, and the Hong Kong Monetary Authority issued its first issuer licenses to HSBC and Anchorpoint Financial in April 2026. Langley observed that both Singapore and Hong Kong are creating recognizable standards for consumers.
Consumer Trust and Stablecoin Regulations
Langley highlighted that these developments are particularly significant for individuals who intend to use stablecoins for everyday transactions. The proposed MAS regulations aim to build a foundation of trust by ensuring that stablecoins are adequately backed and easily redeemable. This approach is intended to protect consumers and foster greater confidence in the digital asset market. The MAS’s move to create a licensing regime for stablecoins marks a significant step in regulating this rapidly evolving sector.
Aconomy, founded by Edward Langley, is a Singapore-based digital asset company. Its offerings include crypto payment cards, a digital-asset exchange, and crypto gift cards. The company’s mission is to enable individuals to utilize digital assets without needing specialized expertise. Langley’s background in both traditional finance and digital assets informs his perspective on the regulatory landscape and the importance of user-centric design in the adoption of new financial technologies.
The MAS’s public consultation period is a crucial step in finalizing these regulations. The proposed rules underscore a global trend towards greater oversight of the cryptocurrency market, particularly concerning stablecoins, which play a vital role in the digital asset ecosystem. The aim is to balance innovation with consumer protection, ensuring that the growth of digital assets is sustainable and secure for all users. The outcomes of this consultation will shape how stablecoins operate in Singapore and potentially influence other jurisdictions.
The proposed regulations in Singapore, coupled with actions in Hong Kong, suggest a growing regional consensus on the need for clear and robust stablecoin frameworks. This regulatory clarity is expected to encourage broader participation in the digital asset economy. As more consumers gain confidence in the stability and security of stablecoins, their use in daily transactions is likely to increase. This evolution could significantly impact the future of payments and financial services.
Aconomy’s focus on simplifying the user experience aligns with the broader goal of making digital assets more accessible. By addressing both regulatory concerns and user interface challenges, companies like Aconomy aim to bridge the gap between traditional finance and the emerging digital asset landscape. The success of these initiatives will depend on continued collaboration between regulators, industry players, and consumers.