Licensed Provider
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59+ Jurisdictions
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Fixed Pricing
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Secure Payments
🇸🇬 Singapore — MAS
Get a MAS Crypto License in Singapore
Obtain your Digital Payment Token (DPT) service license from the Monetary Authority of Singapore under the Payment Services Act 2019. Asia-Pacific’s premier crypto hub.
Quick Facts
Total CostFrom $30,000
Timeline4–8 Months
Min. CapitalS$100K–S$250K
Corporate Tax17% (0% capital gains)
RegulatorMAS
License TypesSPI / MPI / DTSP
Local Presence🏢 Singapore
Office RequiredYes (Singapore)
59+
Jurisdictions6
License Types24h
Response TimeDubai
Headquarters100%
Fixed PricingWhy Singapore
Why Crypto Companies Choose Singapore
The Monetary Authority of Singapore (MAS) has built one of the world’s most comprehensive crypto regulatory frameworks. Over 2,000 blockchain companies operate from Singapore, making it Asia-Pacific’s undisputed crypto capital.
Global Gold Standard Regulation
A MAS license is one of the most prestigious crypto authorizations in the world. It signals compliance with FATF standards, Payment Services Act 2019, and Financial Services and Markets Act 2022 (FSMA). Banks, institutional investors, and partners worldwide recognize MAS licensing as the benchmark.
Asia-Pacific Gateway
Singapore provides direct access to Southeast Asian, Chinese, Japanese, and Indian markets. Strategic location, world-class financial infrastructure, and over 200 banks make it the natural hub for crypto companies targeting Asia-Pacific.
0% Capital Gains Tax
Singapore has no capital gains tax on crypto. Corporate tax is 17% with extensive exemptions for startups (first S$200K at 4.25% effective rate). No withholding tax on dividends. One of the most tax-efficient structures for crypto operations in Asia.
World-Class Banking
MAS-licensed entities can access DBS, OCBC, UOB, and international banks. Singapore’s banking infrastructure is among the strongest globally, providing multi-currency accounts, payment processing, and custody services for licensed crypto firms.
Dual Licensing Regime
The Payment Services Act (PSA) covers domestic DPT services. The FSMA Digital Token Service Provider (DTSP) regime covers Singapore entities serving overseas clients. Both provide comprehensive regulatory coverage for different business models.
Talent & Innovation Ecosystem
Singapore’s fintech ecosystem includes regulatory sandboxes, government grants (Startup SG), and one of the highest concentrations of blockchain developers in Asia. MAS actively promotes innovation while maintaining strict oversight.
Regulatory Framework
Singapore Crypto Regulation in 2026
How MAS regulates digital payment tokens and crypto-asset service providers.
The Payment Services Act 2019 (PSA) is the primary law. The PSA defines “Digital Payment Token (DPT)” services and requires licensing for any entity buying, selling, or facilitating exchange of cryptocurrencies in Singapore. Two license tiers: Standard Payment Institution (SPI) for smaller operations and Major Payment Institution (MPI) for larger volumes.
FSMA extends regulation to overseas-serving entities. Since June 30, 2025, the Financial Services and Markets Act 2022 (FSMA) requires all Singapore-based companies offering digital token services globally to obtain a Digital Token Service Provider (DTSP) license. Operating without proper licensing carries penalties up to SGD 250,000 and/or 3 years imprisonment.
AML/CFT obligations are banking-grade. MAS Notices PSN01, PSN02, and PSN03 mandate comprehensive AML/CFT compliance. The FATF Travel Rule applies to all crypto transfers over SGD 1,500. Client assets must be segregated, with 90% of customer crypto in cold storage. Daily reconciliation required.
Key supporting legislation: Payment Services Act 2019, Financial Services and Markets Act 2022, Terrorism (Suppression of Financing) Act, Corruption Drug Trafficking and Other Serious Crimes Act (CDSA), Personal Data Protection Act (PDPA), and MAS Technology Risk Management Guidelines.
Requirements
MAS Crypto License Requirements
What you need to obtain a DPT license from MAS and operate legally in Singapore.
Singapore Incorporation
Must be incorporated as a Singapore Pte. Ltd. company. The entity must have a physical office in Singapore with local substance. At least one Singapore-resident director required. Sovera handles the full formation process.
Capital Requirements
SPI: minimum paid-up capital of S$100,000. MPI: minimum S$250,000 plus a security deposit or bank guarantee. The amount scales with transaction volume: up to S$100,000 for turnover below S$6M/month, S$200,000 above.
Fit & Proper Assessment
All directors, shareholders, and key executives must pass MAS Fit and Proper criteria covering integrity, competence, and financial soundness. MAS conducts interviews with key executives (CEO, CCO). External advisors cannot attend these screenings.
AML/CFT & Travel Rule
Full compliance with MAS Notices PSN01 (AML/CFT), PSN02 (KYC/CDD), and PSN03 (cybersecurity). Travel Rule for transfers over SGD 1,500. Client asset segregation with 90% cold storage. Suspicious Transaction Reports (STRs) filed with the Suspicious Transaction Reporting Office.
Technology & Cybersecurity
Compliance with MAS Technology Risk Management Guidelines. Penetration testing, vulnerability assessments, incident response plans, business continuity. Data protection under the Personal Data Protection Act (PDPA). Breach notification within 3 days.
Process
How to Get a MAS Crypto License
From Singapore incorporation to MAS-licensed DPT operations.
1
Week 1–2
Strategy & License Selection
We determine whether you need an SPI, MPI, or DTSP license based on your business model, transaction volumes, and target markets. We prepare the complete licensing roadmap and begin Singapore company formation.
2
Week 2–6
Incorporation & Compliance Build-Out
Register your Singapore Pte. Ltd. Develop all required frameworks: AML/CFT policies per PSN01/PSN02/PSN03, cybersecurity per TRM Guidelines, business continuity plan, complaints handling, and client asset safeguarding procedures.
3
Week 6–8
MAS Application Submission
File the license application with MAS. SPI and MPI applications are reviewed on a rolling basis. We ensure complete documentation to avoid requests for additional information which are the primary cause of delays.
4
Month 3–8
MAS Review & Executive Interviews
MAS conducts detailed assessment including interviews with key executives (CEO, CCO). We prepare executives for these screenings. The review typically takes 4–6 months but may extend if MAS requests additional information.
5
Post-Approval
Banking & Operational Launch
Set up corporate banking with Singapore banks. Configure compliance monitoring systems. Ongoing supervision by MAS begins immediately upon license issuance.
Cost Breakdown
MAS Crypto License Costs
Total first-year cost from $30,000 for an SPI license. Full cost transparency.
| Item | Cost (USD) |
|---|---|
| Singapore Pte. Ltd. Formation | $2,500–$4,000 |
| MAS Application Fee (SPI: S$1,000 / MPI: S$1,500) | $750–$1,125 |
| Compliance Framework Build-Out | $10,000–$25,000 |
| Key Personnel (Resident Director, CCO) | $5,000–$12,000 |
| Legal & Regulatory Advisory | $8,000–$20,000 |
| Office & Substance (Annual) | $5,000–$15,000 |
| Total (First Year, SPI) | From $30,000 |
Capital requirements (S$100K–S$250K) are separate equity requirements. MPI licenses cost more due to higher capital and compliance obligations. Annual supervision fees are commensurate with license type. Sovera provides fixed-price quotes tailored to your license type and business model.
Comparison
Singapore vs. Other Crypto Jurisdictions
How MAS compares to other major crypto licensing regimes in 2026.
| MAS 🇸🇬 Recommended | VARA 🇦🇪 | MiCA 🇪🇺 | CIMA 🇰🇾 | SVG 🇻🇨 | |
|---|---|---|---|---|---|
| Setup Cost | From $30K | $47K+ | $50K+ | $50K–$110K | $8.5K |
| Min. Capital | S$100K–250K | AED 100K+ | €50K–150K | $100,000 | EC$300K |
| Timeline | 4–8 months | 3–6 months | 3–6 months | 4–10 months | 60–90 days |
| Corporate Tax | 17% | 9% | 12–25% | 0% | 0% |
| Banking | Excellent | Strong | Strong | Moderate | Moderate |
| Best For | Asia-Pacific hub | Exchanges, OTC | EU market access | Funds, Institutional | Startups, MVPs |
FAQ
Frequently Asked Questions
How much does a MAS crypto license cost?
SPI licensing starts from approximately $30,000 first-year (including Singapore formation, MAS application, compliance build-out, and substance). MPI licensing from $50,000+. Capital requirements (S$100K–S$250K) are separate company equity.
How long does MAS licensing take?
Typically 4–8 months. MAS reviews SPI/MPI applications on a rolling basis with standard processing of 4–6 months. Delays come from incomplete documentation or business models that raise regulatory concerns.
What is the difference between SPI and MPI?
Standard Payment Institution (SPI): monthly DPT transaction volume below S$3 million per service, S$6 million combined. Major Payment Institution (MPI): above these thresholds. MPI requires higher capital (S$250K vs S$100K) and more comprehensive compliance.
What is the DTSP license under FSMA?
Since June 30, 2025, Singapore-based companies offering digital token services to overseas customers need a Digital Token Service Provider (DTSP) license under the Financial Services and Markets Act. This covers firms that previously served only foreign clients without a PSA license.
Do I need a physical office in Singapore?
Yes. MAS requires a physical Singapore office with local substance. A registered address alone is insufficient. You need at least one Singapore-resident director. Sovera assists with office setup and director appointments.
Is there capital gains tax on crypto in Singapore?
No. Singapore has no capital gains tax, making it one of the most tax-efficient jurisdictions for crypto businesses. Corporate tax is 17% with substantial exemptions for startups. No withholding tax on dividends.
How does Singapore compare to Hong Kong for crypto?
Both are premier Asian crypto hubs. Singapore has a more established licensing framework (PSA since 2020) and more licensed entities. Hong Kong offers a newer SFC/VATP regime targeting larger exchanges. Singapore is generally more accessible for startups.
Can Sovera handle the entire Singapore licensing process?
Yes. Sovera provides end-to-end MAS licensing: Singapore company formation, compliance framework, key personnel appointments, MAS application management, executive interview preparation, and banking introductions.
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🏢 Our presence in Singapore
Sovera works with Singapore-based partners for MAS DPT licensing, company formation, and ongoing regulatory compliance.
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Ready to license in Singapore?
Get a personalized MAS licensing quote. Asia-Pacific’s premier crypto hub.