Crypto license in Singapore
Base capital, major
Капитал крупного
S$250,000
250 000 SGD
Annual licence fee
Ежегодная пошлина
S$10,000 for a major
10 000 SGD у крупного
Security with MAS
Обеспечение у MAS
S$100,000 or S$200,000
100 000 или 200 000 SGD
Standard class line
Граница класса
S$3 million a month
3 млн SGD в месяц
When you need a Singapore crypto license
Your users include Singapore residents
Offering a digital payment token service to anyone here puts you under the Payment Services Act and a licence from the Monetary Authority.
You serve only clients abroad
A Singapore company dealing in tokens purely for overseas users still needs a licence — the one Part 9 of the Financial Services and Markets Act created.
Monthly flows cross three million
Under S$3 million a month in one payment service you can stay a standard institution; above that the major institution rules and their security apply.
Tokens arrive from your customers
Tokens received from a customer have to reach a trust account by the next business day, kept apart from everything the company owns.
Your board has no resident director
At least one executive director must be a citizen or permanent resident, and the address has to be a real place of business, not a mailbox.
What you get
- A licence under the Act that actually reaches you
- An external auditor's report the regulator will read
- Base capital and security in place
- Trust arrangements for customer assets
- A file that survives the rounds of questions
What Singapore requires before it licenses you
Two Acts, and your customers pick one
- A digital payment token service offered to anyone, people in Singapore included, is licensed under the Payment Services Act 2019.
- A Singapore corporation, or a firm with a place of business here, that provides digital token services only outside Singapore is licensed under Part 9 of the Financial Services and Markets Act 2022, in force from 30 June 2025.
- A firm already licensed under the payments regime for the same activity is carved out of the second one.
- Inside the payments regime the class follows volume: a standard institution stays under S$3 million a month in any single payment service, or S$6 million across two or more.
Money the licence rests on
- Base capital of S$100,000 for a standard payment institution and S$250,000 for a major one, held for as long as the licence is in force.
- A digital token service provider under the second Act holds base capital of S$250,000; a sole proprietor keeps the same amount as a cash deposit.
- A major payment institution lodges security with the regulator before it opens: S$100,000 where monthly transaction value averages up to S$6 million, otherwise S$200,000.
- Published guidance treats six to twelve months of operating expenses as a rule of thumb for capital, well above the floor.
Where client assets have to sit
- Assets received from a customer go into a trust account no later than the next business day, or straight back to the customer.
- The account carries a trust designation and stays separate from any account holding the firm's own assets.
- Customer assets cannot be applied to the firm's debts and are out of reach of enforcement against the firm.
- Safeguarding is handled by people who neither execute trades nor make trading decisions.
What the two Acts charge
| Item | Amount |
|---|---|
| Application, standard institution, token service | S$1,000 |
| Application, major institution, token service | S$1,500 |
| Annual fee, standard institution | S$5,000 |
| Annual fee, major institution | S$10,000 |
| Annual fee, overseas-only licence | S$10,000 |
| Base capital, major institution | S$250,000 |
| Security lodged with the regulator | S$100,000 or S$200,000 |
The wider country picture sits on our Singapore page.
Three reports written by someone else
Money laundering and consumer protection
A token service applicant appoints an independent external auditor, and that report travels with the application, signed within the three months before it.
Technology and cyber-security risk
After an in-principle approval a second independent assessment, this time of technology and cyber controls, becomes a condition attached to the licence.
A legal opinion on your model
The overseas-only regime asks a law firm to say whether what you offer counts as a regulated digital token service in the first place.
Sources: Payment Services Act 2019 and Payment Services Regulations 2019, regs 12, 13, 18B–18G and the Schedule (sso.agc.gov.sg); Financial Services and Markets Act 2022, Part 9; MAS Guidelines PS-G01 of 8 October 2025 and Guidelines on Licensing for Digital Token Service Providers (mas.gov.sg).
Stages of work
Which Act reaches your users
We settle where your customers are and what you do with tokens, and that decides whether you file under the payments regime, the overseas-only regime or both.
Entity, director and premises
The Singapore company is set up, an executive director who is a citizen or permanent resident is appointed, and a permanent place of business is fixed.
Business plan mapped to services
Every product is mapped to a named regulated service, with asset and fund flows, the client profile and a three-year projection that keeps the capital standing.
Policies the auditor will read
Money laundering and consumer protection procedures are written in the exact version that will be filed, because the auditor has to review that same version.
External assessment before filing
The independent auditor is engaged, its declaration and track record go to the regulator separately, and the signed report joins the application.
Filing, fee and rounds of questions
The form goes in with the fee for each service applied for, a case officer is assigned, and the review runs until nothing is outstanding.
From in-principle approval to licence
Capital and security are put in place, the technology assessment attached to the approval is completed, and the licence is issued on those conditions.
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