How much capital do you need for the MAS DPT Service Licence?

S$100k–S$250k by tier. SPI: SGD 100,000; MPI: SGD 250,000; DTSP: SGD 250,000.

General information only. CryptoRegHub provides summaries for informational purposes and does not constitute legal or compliance advice. Always verify with official sources and consult qualified legal counsel before making compliance decisions.

← Back to licensing guides|Licensing→Singapore→MAS DPT Service Licence

Recently verified:28 July 2026·Source →

MAS DPT Service Licence

Q: How long does the MAS DPT Service Licence take?

In practice: Roughly 4–9 months for a straightforward MPI application; DPT applications are among the longest in the regime — frequently 9–18 months from complete submission (industry estimates).

Q: What does the MAS DPT Service Licence application cost?

Application fee: S$1,000 (SPI) or S$1,500 (MPI), non-refundable.. Ongoing: Annual licence fees per service type under the PS Regulations schedule; DTSP flat S$10,000 per year; typical annual compliance and audit spend well above the fee itself (industry estimate).

SingaporeExchange / tradingCustodyTransfer / paymentsLive

⚠

General information only — not legal advice

CryptoRegHub provides plain-English summaries of crypto regulations for informational purposes only. This does not constitute legal, compliance, or financial advice. Regulations change frequently — always verify information with official sources and consult qualified legal counsel before making any compliance decisions.

Singapore licenses digital payment token services under the Payment Services Act as either a Standard Payment Institution (below monthly thresholds) or Major Payment Institution. A separate DTSP regime under FSMA 2022 — in force since 30 June 2025 with no transitional relief — captures Singapore entities serving only offshore customers. Retail protections are among the strictest globally: no lending or staking of retail customers' tokens, marketing restrictions, and trust-based segregation with roughly 90% cold storage expected.

Capital requirements

Tier	Capital	Covers
SPI	SGD 100,000 Below S$3M/month per service and S$5M daily float; no safeguarding obligation	DPT services below thresholds
MPI	SGD 250,000 Confirmed on MAS's licensing page; plus security deposit S$100k–S$200k; safeguarding required	DPT services above thresholds
DTSP	SGD 250,000 FSMA 2022 regime for offshore-serving Singapore entities; flat S$10,000 annual fee; no transitional relief	Digital token services to offshore customers

Application process

Determine your tier and regime

SPI below S$3M monthly per service; MPI above. Singapore entities serving only offshore customers fall under the DTSP regime instead — which has no transitional relief.

Build the local substance

Singapore incorporation, permanent place of business, resident executive director and a Singapore-based compliance officer are assessed strictly.

Prepare the application

Business model, AML/CFT under MAS Notice PSN02, technology risk management (TRM), custody and segregation arrangements, and audit plans.

MAS review

Rolling review with no statutory clock; DPT applications receive the deepest scrutiny in the payments regime, with multiple rounds of queries standard.

Ongoing obligations

Base capital — S$100,000 (SPI) or S$250,000 (MPI), plus an MPI security deposit of S$100,000 (up to S$6M monthly) or S$200,000.

Customer asset protection — segregation on trust, separate blockchain addresses, daily reconciliation, operationally independent custody, and roughly 90% cold storage (guidance).

Retail restrictions — no lending or staking of retail customers' tokens; marketing restrictions to the public.

AML/CFT and TRM — MAS Notice PSN02 and the technology risk management guidelines apply, with transaction reporting.

Penalties — unlicensed operation carries fines up to S$125,000 and/or up to three years' imprisonment for individuals.

Common rejection & delay reasons

Substance shortfalls

Non-resident direction or thin local presence is the most common stumbling block since the 2024 guidelines tightened scrutiny.

Custody arrangements below the bar

Trust segregation, independent custody operations and the cold-storage expectation must be evidenced, not planned.

Misjudging the DTSP boundary

Singapore entities serving offshore customers who assumed they were out of scope must now be licensed or cease — there is no grandfathering.

What's changing

DTSP enforcement posture — regime in force since 30 June 2025 with no transitional relief

· in force

CARF-aligned reporting expansion

· pending

Frequently asked questions

JurisdictionSingapore

RegulatorMonetary Authority of Singapore (MAS)

TypeLicence — SPI / MPI tiers

CapitalS$100k–S$250k by tier

Application feeS$1,000 (SPI) or S$1,500 (MPI), non-refundable.

Ongoing feesAnnual licence fees per service type under the PS Regulations schedule; DTSP flat S$10,000 per year; typical annual compliance and audit spend well above the fee itself (industry estimate).

Realistic timelineRoughly 4–9 months for a straightforward MPI application; DPT applications are among the longest in the regime — frequently 9–18 months from complete submission (industry estimates).

PassportingNone

Last verified28 Jul 2026

Singapore-incorporated company (or registered foreign company) with a permanent place of business; resident executive director; compliance officer based in Singapore. Substance scrutiny has tightened — brass-plate arrangements are insufficient.

https://www.mas.gov.sg →

Singapore PSA / DPT →Singapore DTSP Regime →

Disclaimer

This guide is for general informational purposes only and does not constitute legal advice. Figures change — always verify with the regulator and consult qualified counsel before applying.