An exchange that deals in digital payment tokens is licensed by MAS under the Payment Services Act. Licence classes, compliance and timelines: Singapore crypto licence (MAS DPT).
▸ About this service
What this area covers: crypto exchange in Singapore
Crypto exchange is one of 5 parts of our “Licensing — MSB / VASP / EMI” practice. It covers the full cycle from initial scoping to operational launch, run by a single named partner from our Singapore practice.
What it is in Singapore: licensing advisory for centralised exchange operators.
▸ In detail
How we handle crypto exchange
The “Crypto exchange” project in Singapore is structured as a 4-stage process run by a single named partner.
MAS licences under the Payment Services Act: payment and digital payment token (DPT) licences, from the application to regulator onboarding.
The same desk that runs crypto exchange handles your banking, bookkeeping, compliance and — where needed — your wind-down.INNOVA · Operating model
▸ Jurisdiction
Why Singapore
Singapore is the operating hub of the Asia-Pacific region, with territorial taxation, a strong regulator (MAS), and the rule of law. Our priority for structures focused on Southeast Asia and for fintech licensing under the PSA.
▸ 01 · Advantage
A reliable regulatory environment
For foreign shareholders without a local director, a nominee director is generally required. PSA licensing for fintech operators is a separate track, with its own nuances.
▸ 02 · Advantage
Banking ecosystem
DBS, OCBC, UOB, plus international banks (Standard Chartered, HSBC). Onboarding is manageable with the right ownership structuring and documentation.
▸ 03 · Advantage
Corporate tax 17% (effectively lower with reliefs)
The real tax position depends on the structure — we model it before registration.
▸ 04 · Advantage
Local execution, one plan
Singapore · one named partner
▸ Why us
Why INNOVA
What changes for you when INNOVA runs the project. If a company or a second jurisdiction is not needed yet, we will say so plainly.
01
Turnkey, without the extra hassle
One window and one contract: we take the task whole, handle everything on your behalf with our own team and trusted contractors, and you buy the result. From you we need decisions and signatures; we get in touch only when the next step depends on you.
02
We handle banks and regulators
A bank refusal, a registry query, a regulator's request, a stalled deadline: we answer, rework the file and resubmit at no extra charge for our work until the matter is closed.
03
We see it through
The partner who opens your project carries it through to the result, even when the process runs for months, and stays on afterwards: renewals, filings, changes to the structure. Where the law requires a licensed professional, we bring one in and remain answerable to you.
04
A boutique, personally involved
We have worked in international business since 2012. An experienced partner runs your project personally, and unusual structures are our field: where you hear “that can't be done”, we look for the lawful route.
05
Your affairs stay yours
Information about you, your structure, your beneficial owners and your deals reaches neither competitors nor third parties. Banks, registries and regulators receive exactly what the law or the procedure requires, and the contract says so.
06
Faster and more precise
We build the file around the specific bank's and regulator's requirements before filing. Experience means we get the work right straight away, where some firms need three attempts. A partner replies in writing within 24 hours.
▸ Process
How the work is structured
A 4-stage process led by a single named partner — from scoping to the operational hand-over.
01
Feasibility analysis
Jurisdiction selection and assessment of approval prospects
▸ Result: Feasibility analysis for the licence
10 daysStep 1 of 4
02
Document preparation
Application and supporting documents
▸ Result: Application preparation
3–6 weeksStep 2 of 4
03
Submission and review
The regulator's review process
▸ Result: Beneficial-ownership pack
2–6 monthsStep 3 of 4
04
Post-licence setup
Banking, operating model and monitoring
▸ Result: Business plan and financial model
1 monthStep 4 of 4
▸ Information exchange
What we need from you · what you get from us
What we need from you to begin — and what you walk away with. We won't pester you with needless questions: we already have most of the answers.
▸ From you
What we need
→
- Activity scope + product matrixstructured
- Beneficial-owner packall UBOs
- Business plan10–30 pages
- Financial projections3 years
- Proof of capitalminimum thresholds
- Senior-management CVsfit & proper
▸ From us
What you receive
↓
- Licence issuedin name
- Regulator approval lettersissued
- Licence-conditions registertracked
- Ongoing-reporting calendarset up
- Bank onboarding initiatedlinked
▸ Engagement formats
Four ways to work together
We don't quote a fixed price without understanding your situation — cost depends on the complexity of your case. Send a written request or book a paid consultation, then we pick the right format.
M/01
Consultation
A paid 30-minute video consultation with a partner. We discuss your situation, define the project scope, and propose a structure and timeline.
M/02
Written analysis
A written consultation with a full review of the business — tax positioning, structure options, jurisdiction comparison, banking path. Turnaround: 5 business days.
M/03
Operating roadmap
For complex situations — multi-jurisdiction structures, regulated activity, founder relocation. A full plan with stages, dependencies, deliverables and timing.
M/04
Direct execution
You know what you need — we execute. No advisory mark-up and no discovery phase.
▸ About cost The figure above is the lower bound for a typical scope. The exact fee comes in writing once we have scoped the task.
▸ Questionnaire
Fill in the questionnaire
Complete the online questionnaire: a partner studies your case and replies in writing within 24 hours.
Fill in the questionnaire
4 steps · a partner replies in writing within 24 hours.
→
▸ What happens next
A partner reads the questionnaire, replies in writing at the email you gave within 24 hours, then a written quote follows. Work starts after you accept it.
▸ FAQ
Frequently asked questions
The questions we're asked most often. If yours isn't here, a written request is the fastest way to get an answer.
Most “Crypto exchange” projects in Singapore run 4–9 months start to finish. The fastest stage is document filing; the longest is post-registration onboarding (banking, tax registration). A single named partner runs the project throughout.
From US$ 18,000 · depends on licence type. The lower bound is for clean, standard profiles; the upper bound is for complex ownership structures, multi-jurisdiction projects or regulated activity. A fixed quote follows once we have scoped the task.
In most cases, no. The entire process runs remotely under a notarised power of attorney. A handful of jurisdictions require an in-person visit (typically biometrics for a residence permit) — we plan those as efficiently as possible.
A Major Payment Institution licence is issued by the Monetary Authority of Singapore (MAS) under the Payment Services Act (PSA) 2019. It's required at significant scale — monthly transaction volume above S$3 million for any single payment service, or S$6 million across all of them. MPI holders take on stricter AML/CFT obligations, fund-safeguarding requirements, and ongoing MAS supervision. Holders include Airwallex, Aspire, and Grab Financial. The bar to entry is high.
Crypto services in Singapore fall under the Payment Services Act (PSA). A business handling Digital Payment Tokens (DPT) — buying, selling, exchanging, or facilitating transfers — must obtain a DPT Service Provider licence from MAS. By volume, that's the MPI or SPI class. MAS applies strict AML/CFT requirements, fit-and-proper tests for directors, and minimum base capital of S$250,000 for MPI or S$100,000 for SPI. The bar stays high.
A Capital Markets Services licence is issued by MAS for regulated activities under the Securities and Futures Act (SFA): dealing in capital markets products (stocks, bonds, derivatives), fund management, real estate investment trust (REIT) management, securities financing, and custody. It requires MAS approval, minimum base capital of S$250,000 to S$5 million depending on the activity, and ongoing conduct and disclosure obligations. The class follows your mandate.
MSB (Canada) is a licence for fiat money services. VASP (EU and others) covers virtual assets. EMI (EU/UK) is an Electronic Money Institution — a broader status, regulated like a quasi-bank. The choice depends on your activity, jurisdiction and capital.
Yes — the licence application and the AML/KYC programme are developed in parallel. Filing an application without the programme leads to conditions or a refusal.
▸ Jurisdictions
Crypto exchange in other countries
The same service — in every jurisdiction we run. One desk, one standard.
