Mauritius operates a live stablecoin issuance regime under the Virtual Asset and Initial Token Offering Services Act 2021 and the Financial Services Commission’s Guidance Notes on Stablecoins issued 13 August 2026. Public offers require ITO registration with the FSC; issuers must maintain minimum capital, full (or over-collateralised) reserves of high-quality liquid assets, daily/weekly reserve disclosures, independent valuations, and clear redemption policies. Fully algorithmic designs are discouraged. The Bank of Mauritius separately oversees payment-system and bank prudential aspects; a retail Digital Rupee CBDC pilot continues.
FSC Guidance Notes on Stablecoins - https://www.fscmauritius.org/media/tfnfcfvp/fsc-guidance-notes-on-stablecoins-and-annexure.pdf
Bank of Mauritius Guideline for Virtual Asset related Activities - https://www.bom.mu/sites/default/files/guideline_for_virtual_asset_related_activities_0.pdf
