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National Supervisory Authority & Licensing Qualification Dossier • Asia-Pacific

MAS

Singapore

Monetary Authority of Singapore

Source / Native Reference: 新加坡金融管理局

Tier-1 SupervisorSingaporeEst. 1971Singapore Deposit Insurance Corporation (SDIC) / SGX Fidelity Fund
Supervisory tier
Tier-1
License classes
3
Licensed records
47
Active / regulated
46

Statutory Supervisory Mandate & Scope

Cyprus Securities and Exchange Commission (CySEC) (CySEC) is a Tier-2 derivatives, commodities, and market-infrastructure supervisory body in Cyprus. It regulates futures commission merchants, derivatives dealers, clearing members, and exchange-traded contract execution, enforcing margin adequacy, position limits, trade reporting, and segregated client collateral protections.

Administers the Securities and Futures Act (SFA), Payment Services Act (PSA), Financial Advisers Act (FAA), Banking Act, and Financial Services and Markets Act (FSMA) 2022.

Prudential Tier Assessment

Tier-1

Integrated central bank and Tier-1 financial regulatory authority of Singapore overseeing banking, capital markets, insurance, and digital payment token providers.

Sovereign Jurisdiction: Singapore (Asia-Pacific)

National licensing qualifications & statutory authorisation classes (MAS)

Authorisation categories, permitted institutional and retail activities, minimum initial capital adequacy, and ongoing prudential solvency rules enforced by MAS in Singapore.

License class / codeOfficial designationPermitted institutional & retail activitiesMinimum initial / base capitalOngoing prudential & solvency rule
CMS Licence — Dealing in Capital Markets ProductsCapital Markets Services (CMS) Licence for Securities, Futures & OTC Derivatives / Leveraged FXDealing in securities, exchange-traded derivatives, OTC derivatives, and retail/institutional leveraged foreign exchange.SGD $5,000,000 Base Capital (Clearing Member / Retail OTC Derivatives & Leveraged FX), SGD $1,000,000 (Non-Clearing Member), or SGD $500,000 (Accredited/Institutional Investors only).Financial Resources ≥ 120% of Total Risk Requirement (Operational, Counterparty, Market & Large Exposure Risk); 20:1 retail FX margin cap (5% minimum margin).
CMS Licence — Fund Management (LFMC / RFMC)Licensed Fund Management Company (Retail or Accredited/Institutional A/I LFMC)Discretionary portfolio management, VCC sub-fund management, private equity, hedge fund, and institutional mandate management.SGD $1,000,000 Base Capital (Retail LFMC) or SGD $250,000 Base Capital (Accredited/Institutional LFMC; note RFMC regime repealed into A/I LFMC in Aug 2024).Risk-based capital adequacy (≥120% of Total Risk Requirement), independent fund valuation/custody, and annual MAS Form 1/2 prudential filings.
PSA — Major Payment Institution (MPI / DPT)Major Payment Institution Licence (Digital Payment Tokens & Cross-Border Money Transfer)Digital Payment Token (crypto) exchange and custody, e-money issuance, merchant acquisition, and cross-border remittance without monthly volume caps.SGD $250,000 minimum Base Capital plus SGD $100,000–$200,000 statutory security deposit lodged with MAS.100% safeguarding of customer fiat moneys (via bank guarantee or trust account) + 90% cold storage and statutory trust for customer DPTs.

Investor compensation, client money segregation & digital-asset regime

Statutory counterparty protections, custody reconciliation mandates, and virtual-asset licensing status under MAS.

Investor CompensationStatutory Scheme

Singapore Deposit Insurance Corporation (SDIC) / SGX Fidelity Fund

Maximum coverage per client
SGD $100,000 per depositor per Scheme member bank/finance company (increased from SGD $75,000 in April 2024); SGX Fidelity Fund covers defalcation by SGX member brokers
Eligible counterparties & scope
Non-bank individuals and charities holding SGD deposits at full banks or finance companies (OTC derivatives and DPT tokens are protected via statutory trust segregation rather than SDIC).
Client Money & CustodyRing-Fenced

Securities and Futures (Licensing and Conduct of Business) Regulations — Reg 16 to Reg 37

Reconciliation & audit cadence
Daily computation of customer money and asset trust balances by the next business day; monthly external verification.
Approved custodian requirements
Customer moneys must be deposited in a designated statutory Trust Account with a licensed bank in Singapore; strict prohibition on rehypothecation of retail customer assets ( effective both under SFA and Oct 2024 PSA DPT rules).
Digital Assets & VASPComprehensive licensing covering DPT dealing, custody, cross-border transfer, and the MAS Single-Currency Stablecoin (SCS) reserve/redemption framework.

Payment Services Act (PSA) Major Payment Institution (MPI) — Digital Payment Token (DPT) & MAS Stablecoin Framework

Travel Rule, custody & stablecoin rules
MAS Notice PSN02 enforces a zero-threshold Wire Transfer / Value Transfer Rule for all DPT transactions; mandatory 90% cold-wallet custody & statutory trust segregation for DPT customer assets.

Primary Governing Statutes & Rulebooks

  • Securities and Futures Act 2001 (SFA) & SF(LCB)R / SF(FMR)R Regulations
  • Payment Services Act 2019 (PSA) & PSN02 AML/CFT Notice for Digital Payment Tokens
  • Financial Services and Markets Act 2022 (FSMA) & Variable Capital Companies Act (VCC)
  • MAS Notice SFA 04-N12 (Sale of Investment Products) & MAS Technology Risk Management (TRM) Guidelines

Regulatory Reporting & Audit Obligations

Quarterly Form 1 & Form 2 Risk-Based Capital returns and annual audited financial statements + Auditor’s Report on Customer Money/Assets (Form 5)SFA Part 6A OTC Derivatives Trade Reporting to DTCC Data Repository SingaporeMandatory Dispute Resolution membership with FIDReC (Financial Industry Disputes Resolution Centre) for retail-facing institutions

Cross-Border Equivalence & Passporting

ASEAN Collective Investment Scheme (CIS) passporting for qualifying retail funds; FSMA 2022 requires Singapore-incorporated entities providing virtual asset services outside Singapore to be licensed.

Supervised institutions & MAS licence records in our database

47 licence records referencing MAS (46 regulated/registered, 1 flagged with warnings/revocations).

Filter directory by MAS →
InstitutionLicence numberStatusLicensed legal entityEffective dateVerification
Mizuho SecuritiesNumber pending checkRegulatedMIZUHO BANK, LTD.—
CMCMarkets200605050ERegulatedCMC MARKETS SINGAPORE PTE LTD—
Swissquote226182RegulatedSWISSQUOTE PTE. LTD.—
ICAPCMS100204RegulatedICAP AP Singapore Pte Ltd2005
DigiFinexNumber pending checkRevokedDIGIFINEX PTE LTD2020-07-28
CoinbaseNumber pending checkRegulatedCoinbase—
OKXNumber pending checkRegulatedOKX SG PTE. LTD.—
ForexCMS100476RegulatedSTONEX FINANCIAL PTE. LTD.—
Saxo(Global network record)Not suppliedRegulatedSAXO CAPITAL MARKETS PTE. LTD.—
MUFG Bank(Global network record)Number pending checkRegulatedMUFG BANK, LTD.—
CheckOut(Global network record)PS20200469RegulatedCheckout—
Hash(Global network record)Number pending checkRegulatedHASHKEY CAPITAL SINGAPORE PTE. LTD.—
OANDA(Global network record)Number pending checkRegulatedOANDA ASIA PACIFIC PTE. LTD.—
Plus500(Global network record)CMS100648RegulatedPLUS500SG PTE. LTD.—
IB(Global network record)CMS100917RegulatedINTERACTIVE BROKERS SINGAPORE PTE. LTD.—
StoneX(Global network record)Number pending checkRegulatedStoneX Financial Pte. Ltd.2011
VELOCITY(Global network record)202302162ERegulatedVelocity Trade Pte. Ltd.—
BitGo(Global network record)Number pending checkRegulatedBITGO SINGAPORE PTE. LTD.2024-08
Eddid Financial(Global network record)CMS101839RegulatedEDDID FINANCIAL SINGAPORE PTE. LTD.—
IG(Global network record)1489RegulatedIG ASIA PTE LTD—
MultiBank(Global network record)CMS101174RegulatedMEX GLOBAL MARKETS PTE. LTD—
Tiger Brokers(Global network record)Number pending checkRegulatedTIGER BROKERS (SINGAPORE) PTE. LTD—
Broker-4317(Global network record)Number pending checkRegulatedBroker-43172020
SMS(Global network record)TC006275RegulatedHEX TRUST LIMITED—
Straits Financial Group(Global network record)CMS100028-1RegulatedStraits Financial Services Pte Ltd—
The Capital Group(Global network record)249688RegulatedCAPITAL GROUP INVESTMENT MANAGEMENT PTE. LTD.—
Adyen(Global network record)PS20200541RegulatedAdyen2020-01-28
Anchorage(Global network record)427752RegulatedANCHORAGE DIGITAL SINGAPORE Pte. Ltd.—
DBS Bank(Global network record)Number pending checkRegulatedDBS BANK LTD—
HashKey Exchange(Global network record)Number pending checkRegulatedHASHKEY CAPITAL SINGAPORE PTE. LTD.—
Lion(Global network record)CMS101140RegulatedLION INTERNATIONAL FINANCIAL (SINGAPORE) PTE. LTD.—
RBC(Global network record)Number pending checkRegulatedROYAL BANK OF CANADA—
TRIPLE(Global network record)PS20200525RegulatedTRIPLE A TECHNOLOGIES PTE. LTD.—
TRON(Global network record)Number pending checkRegisteredTRON Foundation Limited2017-07
XREX(Global network record)Number pending checkRegulatedXREX PTE. LTD.—
BigONE(Global network record)201727107KRegulatedBIGX GLOBAL PTE. LTD. f.k.a UNIBLOCK INVESTMENT CONSULTANCY PTE. LTD.—
CGS CIMB ·(Global network record)Number pending checkRegulatedCGS INTERNATIONAL SECURITIES SINGAPORE PTE. LTD.—
KGI(Global network record)195500144HRegulatedKGI Securities (Singapore) Pte. Ltd.1990
Maybank Kim Eng(Global network record)Number pending checkRegulatedMAYBANK—
OCBC(Global network record)Number pending checkRegulatedOVERSEA-CHINESE BANKING CORPORATION LIMITED—
Omise(Global network record)201613920HRegulatedOmise—
PAYPAL(Global network record)PS20200223RegulatedPAYPAL PTE. LTD.2020-02-23
PHILLIP(Global network record)Not suppliedRegulatedPHILLIP NOVA PTE. LTD--
UOB(Global network record)193500026ZRegulatedUNITED OVERSEAS BANK LIMITED—
UOB(Global network record)197000447WRegulatedUOB Kay Hian Securities—
UPbit(Global network record)Number pending checkRegulatedUPBIT SINGAPORE PTE. LTD.—
UTRADE(Global network record)197000447WRegulatedUTRADE—

MAS (Singapore): institutional licensing & due diligence FAQ

Key statutory capital, compensation, custody segregation, and verification answers for compliance teams.

What are the primary licensing classes and minimum capital requirements under MAS (Singapore)?

MAS (Monetary Authority of Singapore) supervises financial institutions in Singapore under Securities and Futures Act 2001 (SFA) & SF(LCB)R / SF(FMR)R Regulations and Payment Services Act 2019 (PSA) & PSN02 AML/CFT Notice for Digital Payment Tokens. Key statutory authorisation classes include: CMS Licence — Dealing in Capital Markets Products (Capital Markets Services (CMS) Licence for Securities, Futures & OTC Derivatives / Leveraged FX — min. capital: SGD $5,000,000 Base Capital (Clearing Member / Retail OTC Derivatives & Leveraged FX), SGD $1,000,000 (Non-Clearing Member), or SGD $500,000 (Accredited/Institutional Investors only).); CMS Licence — Fund Management (LFMC / RFMC) (Licensed Fund Management Company (Retail or Accredited/Institutional A/I LFMC) — min. capital: SGD $1,000,000 Base Capital (Retail LFMC) or SGD $250,000 Base Capital (Accredited/Institutional LFMC; note RFMC regime repealed into A/I LFMC in Aug 2024).); PSA — Major Payment Institution (MPI / DPT) (Major Payment Institution Licence (Digital Payment Tokens & Cross-Border Money Transfer) — min. capital: SGD $250,000 minimum Base Capital plus SGD $100,000–$200,000 statutory security deposit lodged with MAS.). Ongoing prudential supervision requires strict adherence to capital adequacy and liquidity buffers.

Does MAS provide statutory investor compensation and mandatory client asset segregation?

Under MAS's framework, investor protection is governed by Singapore Deposit Insurance Corporation (SDIC) / SGX Fidelity Fund with maximum coverage of SGD $100,000 per depositor per Scheme member bank/finance company (increased from SGD $75,000 in April 2024); SGX Fidelity Fund covers defalcation by SGX member brokers (Non-bank individuals and charities holding SGD deposits at full banks or finance companies (OTC derivatives and DPT tokens are protected via statutory trust segregation rather than SDIC).). For client money and custody assets, supervised firms must comply with Securities and Futures (Licensing and Conduct of Business) Regulations — Reg 16 to Reg 37, performing daily computation of customer money and asset trust balances by the next business day; monthly external verification. with customer moneys must be deposited in a designated statutory trust account with a licensed bank in singapore; strict prohibition on rehypothecation of retail customer assets ( effective both under sfa and oct 2024 psa dpt rules)..

How does MAS regulate digital assets, crypto exchanges (VASPs/CASPs), and stablecoins?

MAS's digital-asset regime is structured around Payment Services Act (PSA) Major Payment Institution (MPI) — Digital Payment Token (DPT) & MAS Stablecoin Framework (Comprehensive licensing covering DPT dealing, custody, cross-border transfer, and the MAS Single-Currency Stablecoin (SCS) reserve/redemption framework.). Custody and AML/CFT compliance obligations require: MAS Notice PSN02 enforces a zero-threshold Wire Transfer / Value Transfer Rule for all DPT transactions; mandatory 90% cold-wallet custody & statutory trust segregation for DPT customer assets.

How can I verify an institution's MAS licence number and check our 47 recorded licence entries?

Our database currently tracks 47 licence records referencing MAS (46 marked regulated or registered). To verify a counterparty at the primary source, open MAS's official public register (https://www.mas.gov.sg/), search by the exact reference number and legal entity name, and confirm that the firm's domain and permitted activities match its statutory authorisation.

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Statutory licensing classes, base capital rules, and investor protection summaries for MAS (Singapore) are maintained for institutional benchmarking and do not constitute legal advice. Always verify current rulebooks and active firm authorisations directly on MAS’s official public register.

MAS (Monetary Authority of Singapore) — Licensing Qualifications, Capital Rules & Supervised Firms | RegTech Codex