Singapore cryptocurrency platform Crypto.com now lets users with Singpass deposit SGD and USD straight into their Crypto.com App, facilitated by Southeast Asia’s largest bank, DBS Bank.
Crypto.com Expands Fiat Banking Access in Singapore With DBS Partnership
Crypto.com has strengthened its fiat banking capabilities in Singapore by enabling users to deposit and withdraw Singapore dollars and US dollars directly through DBS Bank, Southeast Asia’s largest bank by assets. The move marks a further step in Crypto.com’s strategy to deepen its regulated banking infrastructure in key markets.
From December 18, 2025, Singapore-based users of the Crypto.com App can fund their accounts using new banking rails facilitated by DBS. The service is available to customers who signed up using Singpass, Singapore’s national digital identity system, offering a streamlined and locally compliant way to move funds between bank accounts and the Crypto.com platform.
The enhanced arrangement allows DBS to provide Crypto.com customers with unique virtual accounts. This enables faster and simpler transfers of both SGD and USD into and out of the app, improving the overall user experience for retail clients. The DBS partnership sits alongside Crypto.com’s existing banking relationship with Standard Chartered Bank, giving the platform multiple fiat on and off ramps within Singapore.
Crypto.com said the expanded capabilities underline its commitment to working closely with established financial institutions and operating within the Monetary Authority of Singapore’s regulatory framework. Singapore is Crypto.com’s global headquarters and remains a core market for the company’s regional and international growth plans.
Karl Mohan, Executive Vice President of Financial Services and General Manager International at Crypto.com, said the new functionality reflects the firm’s focus on secure and regulated access to digital assets. He noted that adding new deposit and withdrawal options in Singapore makes it easier for users to interact with Crypto.com’s products and services and supports broader crypto adoption across Asia.
Chin Tah Ang, General Manager Singapore at Crypto.com, highlighted the importance of partnering with DBS as part of the company’s local strategy. He said that while deposits and withdrawals were already supported, the new setup significantly improves accessibility and functionality for retail users, while remaining aligned with MAS regulations.
The announcement comes as Singapore continues to position itself as a leading hub for regulated digital asset activity, with strong emphasis on consumer protection, compliance, and integration with the traditional banking system.
Why are SGD deposits important for Crypto.com users?
One of the major costs of buying and selling cryptocurrency are the foreign exchange fees as most crypto is traded in USD. So if a Singaporean user deposits money into Crypto.com from a SGD bank account, they will have to pay fees to convert SGD into USD. Now, by being able to deposit SGD directly, it reduces those FX fees.
Is Crypto.com legal in Singapore?
Yes, crypto.com is legal in Singapore. On June 1, 2023 Crypto.com announced today that it has received its Major Payment Institution (MPI) licence for Digital Payment Token (DPT) services from the Monetary Authority of Singapore (MAS). This announcement followed Crypto.com receiving its in-principle approval from MAS in June 2022. With this licence, Crypto.com can continue to extend its Digital Payment Token (DPT) services to customers in Singapore.
Is Crypto.com based out of Singapore?
Yes, founded in 2016 and based in Singapore Crypto.com serves millions of users globally and positions itself as a leader in regulatory compliance, security, and privacy. The company’s stated vision is to put cryptocurrency in every wallet, with partnerships such as this designed to lower barriers between traditional finance and digital assets.
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