Singapore crypto license
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Starting a crypto business in Singapore requires understanding the local licensing rules set by the Monetary Authority of Singapore (MAS). If you plan to offer cryptocurrency exchange, wallet, or payment services, a Singapore crypto license is mandatory—even if your clients are only overseas. Businesses must meet strict requirements for legal structure, capital, and compliance, with clear application steps and costs. This page explains the main requirements, process, and obligations for obtaining a Singapore crypto license, so you can plan and launch your business with confidence.
Key Benefits of a Crypto License in Singapore
Crypto License in Singapore: Licensing Process & Fees
Types of Crypto Licenses in Singapore
Under the Payment Services Act (PSA), the Monetary Authority of Singapore (MAS) issues two types of crypto licenses for digital asset businesses:
Standard Payment Institution (SPI) License
Designed for smaller crypto businesses with monthly transaction volumes below S$3 million. Minimum paid-up capital of S$100,000, annual fee of S$1,000. Best suited for early-stage crypto startups and niche digital asset platforms.
Major Payment Institution (MPI) License
Required for crypto businesses exceeding SPI transaction thresholds — no volume cap. Minimum paid-up capital of S$250,000, annual fee of S$5,000. Mandatory for larger crypto exchanges, custodian wallet providers, and businesses serving institutional clients locally and internationally.
Capital Markets Services (CMS) License
Issued under the Securities and Futures Act (SFA). Required for businesses involved in issuance or trading of security tokens, dealing in capital markets products, or providing custodial services for tokenized assets. Best suited for STO platforms, security token issuers, and tokenized asset brokers.
Digital Token Service Provider (DTSP)
Regulated under the Financial Services and Markets Act (FSMA, effective June 2025). Required for Singapore-incorporated firms providing digital token services primarily to overseas clients. Applicable to exchanges and crypto firms with a non-Singapore client focus operating from Singapore.
Frequently Asked Questions: Singapore Crypto License
Still have questions?
What is a crypto license in Singapore and who needs it?
Any company providing digital payment token (DPT) services in Singapore — including cryptocurrency exchange, crypto wallet custody, or crypto transfer services — must obtain a crypto license from MAS under the Payment Services Act (PSA).
How long does it take to get a crypto license in Singapore?
The Singapore crypto license application process typically takes 6–12 months. This includes company incorporation, compliance documentation preparation, and MAS review. During the review period, MAS may request additional information or clarification.
What is the cost of a Singapore crypto license?
Key costs include minimum paid-up capital of S$100,000 (SPI) or S$250,000 (MPI), a government application fee of S$1,000–S$1,500, and an annual license fee of S$1,000 (SPI) or S$5,000 (MPI). Additional costs include legal, compliance, and corporate secretary services.
Can a foreigner apply for a crypto license in Singapore?
Yes. Foreign founders can obtain a Singapore crypto license with 100% foreign ownership permitted. However, at least one locally resident director must be appointed, and the company must be incorporated in Singapore as a Private Limited Company (Pte. Ltd.).
What AML/KYC requirements apply to MAS-licensed crypto companies?
All Singapore crypto license holders must appoint a qualified compliance officer, implement robust AML/KYC policies covering customer due diligence, transaction monitoring, and suspicious activity reporting — fully compliant with MAS Notice PSN02 and FATF guidelines.
What is the difference between an SPI and MPI crypto license in Singapore?
The Standard Payment Institution (SPI) license suits smaller crypto businesses with monthly transaction volumes below S$3 million, while the Major Payment Institution (MPI) license is required for higher-volume operations. Both are issued by MAS under the PSA framework, with different capital requirements and annual fees.
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