01
8.5 / 10
The all-in-one account — banking, crypto, investing
MiCA Compliant UK Banking LicenceEU Banking LicenceFCA Regulated€100K DGS Protected
● 🇸🇬SINGAPORE 11 platforms MAS SGD via PayNow / FAST
Best crypto banks for Singapore
Singapore is Asia's most mature crypto-banking jurisdiction. The Monetary Authority of Singapore (MAS) operates the Payment Services Act (PS Act, 2019) framework with a Major Payment Institution (MPI) and Standard Payment Institution (SPI) split — Coinbase, Crypto.com, Independent Reserve, and Sygnum hold MAS Digital Payment Token (DPT) licences. PayNow + FAST settle SGD deposits in seconds at zero fee across all Singapore banks. The MAS enforces some of the strictest consumer-protection rules globally (no retail crypto advertising allowed since 2022).
§ 01 REGULATORY OVERVIEW
Crypto-banking regulation in Singapore
Crypto firms serving Singapore residents must hold a MAS DPT licence under the PS Act. As of early 2026, fewer than 30 firms hold full DPT licences (most are Major Payment Institutions). Stablecoin issuance is governed under the MAS Stablecoin Framework (effective August 2023) — only fully-reserved single-currency-pegged stablecoins issued by MAS-licensed entities can be marketed to retail. MAS Notice PSN02 requires Travel Rule compliance for VASP-to-VASP transfers above SGD 1,500. Crypto gains for individuals are not taxed (no capital gains tax in Singapore); business income from frequent trading may be taxable.
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§ 02 TOP 10 FOR SINGAPORE
Crypto banks serving Singapore, ranked
Ranked by composite score across the 8 weighted axes — regulatory safety (20%), yield (15%), banking integration (13%), debit card (12%), fees (12%), coin selection (10%), UX (10%), and customer support (8%). Filter applied: serves ASIA per published regulatory_status.
02
8.5 / 10
First federally chartered US crypto bank
OCC NTBCMAS DPT (Singapore)FinCEN MSBSOC 2 Type II
03
7.8 / 10
Highest yield + instant crypto loans
MiCA Compliant EU LicensedProof of ReservesArmanino Audited
04
7.8 / 10
Hong Kong + Singapore institutional crypto bank
SFC HKMAS DPTVARA Dubai (Temporary Permit)ADGMBMA Bermuda
05
7.0 / 10
The beginner-friendly US crypto account — NASDAQ-listed and FDIC-insured fiat
FDIC Insured NASDAQ ListedSEC RegisteredFDIC Insured (USD)FCA Registered (UK)
06
7.0 / 10
UK + Africa crypto exchange + custodial wallet
FCA Cryptoasset FirmFSCA (ZA)BNM (Malaysia)Lithuanian VASP
07
6.7 / 10
Biggest card rewards — but buyer beware
FCA RegisteredMAS Licensed
08
6.4 / 10
World's largest crypto exchange — 600+ coins, Binance Pay, Binance Card
FIU India RegisteredAUSTRAC Registered (AU)
09
6.0 / 10
150+ currencies, one card — pioneer with a support problem
FCA RegisteredE-Money Institution
10
5.9 / 10
The world's most regulated crypto bank — for institutions
MiCA Compliant FINMA Banking LicenceMAS LicensedSwiss Regulated
§ 03 SINGAPORE FAQ
Crypto banking in Singapore — FAQ
Which crypto bank or exchange is best for Singapore residents? +
Coinbase Singapore (MAS DPT in-principle approval), Crypto.com Singapore (MAS DPT licence), Independent Reserve (Australian + Singapore licensed), and Sygnum Singapore (MAS-regulated branch of Swiss bank) lead on regulatory posture. Anchorage Digital provides institutional custody for funds. Pick by use case from the ranked list below.
Are crypto gains taxed in Singapore? +
Singapore has no general capital gains tax — crypto gains for individuals are not taxed. However, IRAS treats crypto-trading income as taxable business income if the activity is sufficiently frequent and profit-motivated; the test is fact-specific. Stablecoin yield income may be taxable. Consult a Singapore-licensed tax adviser if your activity is substantial.
How does PayNow work for crypto purchases? +
PayNow is the SGD instant-payment rail (operates across all Singapore banks 24/7, free for individuals). Most MAS-licensed crypto exchanges accept PayNow as the default fiat on-ramp — settlement is typically under 60 seconds. FAST is the inter-bank rail for larger transfers. Card deposits exist as a fallback but are slower and more expensive.
Can I use the MAS Stablecoin Framework stablecoins for yield? +
The MAS Stablecoin Framework certifies single-currency-pegged stablecoins (SGD, USD) issued by MAS-licensed entities. As of 2026, only a small number of issuers are certified. USDC and EURC are NOT MAS-certified but can still be traded — they're not eligible for the regulatory protections under the framework. For yield, this matters: MAS-certified stablecoins are safer; non-certified stablecoins carry residual issuer risk.
Is the FATF Travel Rule enforced? +
Yes. MAS Notice PSN02 implements the FATF Travel Rule for VASP-to-VASP transfers above SGD 1,500. Affects withdrawals from MAS-licensed exchanges to external wallets — the originating exchange must transmit beneficiary information to the receiving VASP. For self-custody withdrawals, your exchange may require ownership proof (signed message, photograph).
§ 04 EXPLORE MORE
Other coverage for Singapore
- MAS DPT licence explained — MPI/SPI tiers + Stablecoin Framework
- Global crypto-banks comparison — all 25 reviewed
- Methodology — how we score platforms across 8 axes
- Safest crypto banks — cross-vertical safety ranking