Best exchanges in Singapore
Which crypto platforms are licensed or operate under MAS oversight for Singapore residents, and how to choose one.
This is general information, not legal, tax, or financial advice. Verify the current rules with a qualified local professional and the official regulator before acting.
Crypto exchanges are legal in Singapore and several hold a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS) to provide digital payment token services. As of February 2026, choose a platform that is licensed for Singapore residents and confirm its status on the official MAS Financial Institutions Directory. Binance.com is not licensed to serve Singapore residents.
How crypto exchanges are regulated in Singapore
Crypto exchanges are legal in Singapore. A platform that lets residents buy and sell crypto provides a digital payment token service, which is regulated under the Payment Services Act 2019 and supervised by the Monetary Authority of Singapore (MAS). To serve the public, such a platform generally needs a Major Payment Institution (MPI) licence for digital payment token services. This was the position as of February 2026.
MAS has granted these licences to a range of providers. Platforms that hold or operate under an MPI licence for digital payment token services include Coinbase, Crypto.com and Independent Reserve. By the middle of 2025 MAS had licensed around 33 digital payment token service providers in total, a mix of exchanges and other firms. Always confirm a platform's current status by searching its name on the MAS Financial Institutions Directory before you deposit funds.
What a licence does and does not mean
A MAS licence focuses on anti money laundering controls, business conduct, risk disclosures and the safekeeping of customer assets. It does not make crypto a safe investment, and it is not a recommendation. A licensed platform can still fail or be hacked, and the value of crypto can fall. This page is information, not investment advice.
Consumer protection measures from October 2024
Measures that came into operation on 4 October 2024 require digital payment token service providers to keep customer assets under a statutory trust and restrict them from facilitating lending and staking of tokens for retail customers. The same measures bar providers from accepting locally issued credit card payments from retail customers, from offering trading incentives, and from providing margin or leverage to retail customers. These rules sit alongside the MPI licensing regime.
When choosing among the available platforms, check that the provider appears on the MAS Financial Institutions Directory, then compare funding methods such as bank transfer and PayNow, the assets supported, custody arrangements and fees in general terms. Binance.com is not licensed to serve Singapore residents and was placed on the MAS Investor Alert List in 2021, so it should not be treated as an available option for residents. Keep clear records of every purchase and sale for the Inland Revenue Authority of Singapore (IRAS).
Regulator and sources
- Monetary Authority of Singapore (MAS), Financial Institutions Directory, for the current list of licensed digital payment token service providers.
- Monetary Authority of Singapore (MAS), Payment Services Act 2019, for the Major Payment Institution licensing regime.
- Monetary Authority of Singapore (MAS), Guidelines on Consumer Protection Measures by Digital Payment Token Service Providers, published 2 April 2024 and in operation 4 October 2024.
- Coinbase, announcement of its Major Payment Institution licence granted by MAS.
Sources are named for reference. Always confirm the current position directly with the named regulator or authority before acting.
Frequently asked questions
Which crypto exchanges are licensed in Singapore?+
MAS has granted Major Payment Institution licences for digital payment token services to a number of providers, including Coinbase, Crypto.com and Independent Reserve. Confirm the current list on the MAS Financial Institutions Directory.
Is Binance legal in Singapore?+
Binance.com is not licensed to serve Singapore residents and was placed on the MAS Investor Alert List in 2021. Confirm the current position with MAS before acting.
Is it legal to use a crypto exchange in Singapore?+
Yes. Using a licensed digital payment token service provider is legal as of February 2026. MAS regulates these providers under the Payment Services Act 2019.
Can I use a credit card to buy crypto in Singapore?+
Under consumer measures in operation from 4 October 2024, digital payment token service providers cannot accept locally issued credit card payments from retail customers.
How do I check if an exchange is licensed?+
Search the provider name on the MAS Financial Institutions Directory and look for a Major Payment Institution licence covering digital payment token services.
Rules change. Licence status and the list of approved providers change. Confirm a platform's current licence on the MAS Financial Institutions Directory before depositing funds.