Singaporean banks are navigating a changing regulatory environment while supporting digital asset services.
Look for banks offering crypto-aware accounts, regulated partnerships, and transparent policies.
Complete crypto services from banks are still limited, but 2025 is expected to see clearer paths for crypto-friendly banking in Singapore.
Singapore has a strong regulatory framework and a powerful fintech infrastructure. Recently, the island country's monetary authority postponed the implementation of crypto-asset banking rules until 2027. This decision provides banks with more time to develop crypto-aware services. Individuals and businesses must select the best crypto-friendly banks in Singapore to receive excellent fiat-crypto on-ramp support.
Many banks in Singapore support cryptocurrency and support crypto firms such as:
OCBC supports crypto banking in Singapore with the help of intraday institutional lending capabilities. This bank introduces numerous innovations in handling transactions on the blockchain. The ecosystem of OCBC supports fintechs and digital-asset service providers.
This is one of the leading banks of Singapore in the area of digital assets. The bank offers tokenised bonds and crypto custody pilots and services through the digital subsidiary. Many clients in Singapore choose the Development Bank of Singapore to get crypto services.
The next on the list is Citibank Singapore. Users can receive excellent support from Singapore banks for crypto transactions while transacting in multiple currencies. Citibank offers corporate services utilized by cryptocurrency firms. This bank offers robust regulatory frameworks that cater to the institutional and cryptocurrency banking needs of its users.
Standard Chartered Bank works with many digital-asset custodians and fintech ventures. The bank offers access to all the crypto-aware services and banking infrastructure. These are the major reasons why crypto users choose Standard Chartered Bank to enjoy hybrid solutions.
Also read: Top Crypto Regulation Firms in the US
United Overseas Bank is another leading bank in the digital asset space. The bank partners with other firms to offer tokens to their holders. UOB actively collaborates with regulated cryptocurrency firms to provide cryptocurrency banking services.
Choosing the right crypto-friendly bank makes work easier for the customers. These are the best crypto-friendly banks that comply with the MAS crypto regulations in Singapore to facilitate crypto transactions. Many crypto businesses and firms choose these banks to handle various transactions.
1. Which is better between a digital bank and a traditional bank for crypto services?
Traditional banks with powerful fintech partnerships provide stable crypto infrastructure. Digital banks have fewer constraints than traditional banks.
2. Do crypto bank services have special fees?
Fees for these services may differ from bank to bank. Some banks charge a higher fee for crypto-exchange transactions, while others have lower fees.
3. Which is the important rule for Singapore banks to perform crypto activities?
All banks in Singapore must adhere to MAS standards when conducting crypto activities. They must fulfill other risk-weight requirements to transact in cryptocurrency.
4. Which factors must be checked by the crypto users while choosing a bank?
Crypto holders must consider several factors when selecting a bank in Singapore. They include the bank support, partnership with crypto firms, and policies on digital assets.
5. Which is a reliable bank to handle transactions in multiple currencies?
Citibank Singapore is one of the best banks that offers excellent support for transacting in multiple currencies.