Singapore is one of the most cryptocurrency-friendly nations, reinforcing its status as a leading hub in digital asset innovation. According to Statista, projected revenue in Singapore’s Cryptocurrency market could reach US$229.4 million in 2025. “Singapore’s thriving blockchain ecosystem and supportive regulatory environment position it as a leading hub for cryptocurrency startups and investments in Southeast Asia,” the report stated.
SGX plans to launch Bitcoin perpetual futures
In March, the Singapore Exchange (SGX) announced plans to list Bitcoin perpetual futures in the second half of 2025, marking a milestone for traditional exchanges to venture into crypto derivative markets. The SGX said the futures contracts will only target institutional clients and professional investors.
Perpetual futures are similar with traditional futures but without an expiry date. Traders purely bet on price changes without owning the underlying assets, often with leverage. Thereby, the instruments will not be available for retail customers on the SGX due to higher risks.
The regulatory body for Cryptocurrencies in Singapore
It is very important to trade/invest in cryptocurrencies through a regulated exchange. In Singapore, the Monetary Authority of Singapore (MAS) oversees cryptocurrency activities through the Payment Services Act (PSA), including licensing and compliance with anti-money laundering and terrorism financing rules (AML/CFT). The PSA came into effect in 2020, providing a framework for regulating cryptocurrency trading activities and using tokens for payments.
The pros and cons of using a regulated cryptocurrency exchange
A regulated cryptocurrency exchange will provide users with more security for their transactions and greater investor protection. However, these legal frameworks may also result in higher fees.
Pros:
- Compliance: A regulated cryptocurrency exchange will be subject to stringent compliance requirements, such as Know Your Client (KYC) and AML/CFT checks, reducing risks of fraud and illicit activities.
- Investor protection: Regulations provide users with greater security for funds and dispute resolution mechanisms, safeguarding investors from hacks and unauthorised fund usages.
- Transparency: Exchanges operating under a regulatory framework undergo audits and regulatory oversight, providing users with greater transparency regarding their operations and financial conditions.
Cons:
- Slower process: Stricter compliance requirements may cause longer account opening and transaction processing times.
- Higher fees: Regulated exchanges may change higher trading and services fees to cover their compliance and security costs.
Popular crypto exchanges in Singapore
Coinbase, Coinhako, and Independent Reserve are among the most popular regulated crypto exchanges in Singapore.
Coinbase Global is a remote-first company initially founded in San Francisco, California, U.S. in 2012. The company obtained a Major Payment Institution (MPI) license from the MAS in October 2023. The Cryptocurrency exchange supports funding options, including PayNow and FAST bank transfers.
Independent Reserve
Independent Reserve is an Australian-based cryptocurrency exchange founded in 2013. The company received an MPI license in Singapore in October 2021. You can deposit or withdraw funds using PayNow, FAST/SWIFT bank transfers.
Coinhako
Founded in 2014 in Singapore, Coinhako is more popular in Southeast Asia. The MAS granted Coinhako an MPI license in May 2022. The exchange supports payment options, including PayNow, bank transfer, and credit card payments.
Tina was a Market Analyst at CMC Markets from 2015 to 2024, providing client education, market commentary, and media presentations. She specializes in technical analysis and market fundamentals. Tina believes financial markets comprise a vast area reflecting economies, politics, history, psychology, and philosophy. As a result, her analysis is based on her interpretation of a specific country’s economic and historical background, alongside investor sentiment and behaviour.
Tina’s expertise has garnered recognition, with her commentary frequently quoted by reputable sources like Bloomberg, CNBC, Routers, WSJ, and AFR. Her insights span a diverse spectrum, covering various financial domains, including stock markets, foreign exchange, commodities, and cryptocurrencies. Previously, she also spent significant time with China Central Television. This experience allowed her to develop a deep understanding and insight into China’s economics and business.
