Stablecoins
How Singapore treats stablecoins.
Single-Currency Stablecoin framework finalised August 2023; commencement of the legislative regime still to be confirmed by MAS. DTSP licensing live since 30 June 2025.
What each regime asks for
Requirements.
Singapore MPI
MAS
SGD 250,000
Base capital, plus security of SGD 100,000 or 200,000 depending on monthly volume.
To applySGD 1,500
Decision6 to 12 months
Reserve ruleFor the stablecoin label: full backing, par redemption within five business days
Foreign firmsSingapore company or branch, permanent place of business, and a resident executive director
Licences
Who holds what in Singapore.
Every row links to the regulator's own entry.
| Company | Regulator | Licensed for | Granted | Source |
|---|---|---|---|---|
| Anchorage Digital Singapore Pte. Ltd. | MAS | Major Payment Institution, Digital Payment Token service | not published | register ↗ |
| BitGo Singapore Pte. Ltd. | MAS | Major Payment Institution, Digital Payment Token service | not published | register ↗ |
| Bitstamp Asia Pte. Ltd. | MAS | Major Payment Institution, Digital Payment Token service | not published | register ↗ |
| Blockchain.com (Singapore) Pte. Ltd. | MAS | Major Payment Institution, Digital Payment Token service | not published | register ↗ |
| Circle Internet Singapore Pte. Ltd. stablecoin | MAS | Major Payment Institution, Digital Payment Token service | not published | register ↗ |
| Coinbase Singapore Pte. Ltd. | MAS | Major Payment Institution, Digital Payment Token service | not published | register ↗ |
| Cumberland SG Pte. Ltd. | MAS | Major Payment Institution, Digital Payment Token service | not published | register ↗ |
| DBS Vickers Securities (Singapore) Pte Ltd | MAS | Major Payment Institution, Digital Payment Token service | not published | register ↗ |
| Digital Treasures Center Pte. Ltd. stablecoin | MAS | Major Payment Institution, Digital Payment Token service | not published | register ↗ |
| Fly Wing Technologies Pte. Ltd. stablecoin | MAS | Major Payment Institution, Digital Payment Token service | not published | register ↗ |
| Paxos Digital Singapore Pte. Ltd. stablecoin | MAS | Major Payment Institution, Digital Payment Token service | not published | register ↗ |
| StraitsX SGD Issuance Pte. Ltd. stablecoin | MAS | Major Payment Institution, Digital Payment Token service | not published | register ↗ |
| StraitsX USD Issuance Pte. Ltd. stablecoin | MAS | Major Payment Institution, Digital Payment Token service | not published | register ↗ |