Singapore has long been hailed as a global hub for financial innovation, and its progressive stance on digital assets has earned it the nickname “crypto haven.” For overseas Chinese investors, especially those seeking regulated, secure, and accessible platforms, Singapore offers a compelling environment. With the full enforcement of the Payment Services Act (PSA), crypto exchanges operating in Singapore must now comply with strict licensing requirements set by the Monetary Authority of Singapore (MAS). This guide explores the current landscape of Chinese-friendly crypto exchanges in Singapore, focusing on licensed platforms, legal compliance, and best practices for secure trading.
Understanding Singapore’s Crypto Regulatory Framework
Since the PSA came into effect in January 2020, all providers of Digital Payment Token (DPT) services—including cryptocurrency exchanges—must obtain a license from MAS. This regulatory framework ensures transparency, consumer protection, and anti-money laundering (AML) compliance across the industry.
The PSA does not ban crypto trading; instead, it formalizes it. Exchanges must meet rigorous standards in cybersecurity, financial soundness, and operational governance. While this has led to the closure or exit of non-compliant platforms, it has also strengthened investor confidence in licensed operators.
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This structured approach makes Singapore one of the most trusted jurisdictions for crypto investment in Southeast Asia—especially appealing to overseas Chinese investors who value both innovation and regulatory safety.
Top Licensed Crypto Exchanges Operating in Singapore
As of 2025, only a select number of crypto exchanges have successfully obtained full licenses under the PSA. These platforms are legally authorized to serve Singaporean residents and offer services tailored to diverse user needs—including multilingual support crucial for Chinese-speaking users.
Coinbase Singapore
Coinbase is a globally recognized name in the cryptocurrency space and one of the first major international exchanges to secure a license from MAS. Coinbase Singapore provides a seamless trading experience with support for a wide range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and stablecoins like USDC.
Key features:
- Fully compliant with MAS regulations
- Intuitive interface ideal for beginners and advanced traders
- Strong security protocols including cold storage and two-factor authentication
- Offers educational resources and fiat on-ramps via SGD deposits
Its presence in Singapore underscores the country’s importance in the global crypto ecosystem.
Gemini Trust
Gemini, founded by the Winklevoss twins, operates under a full MAS license and emphasizes institutional-grade security and regulatory adherence. Known for its commitment to compliance, Gemini appeals to risk-averse investors who prioritize safety over speculative gains.
Why investors choose Gemini:
- Transparent fee structure
- Regular third-party audits
- SGD deposit and withdrawal options
- Robust KYC procedures ensuring platform integrity
Gemini also supports API trading for algorithmic strategies, making it suitable for more technical users.
Coinhako
Among the few locally founded exchanges with a MAS license, Coinhako stands out as a key player catering specifically to the Singaporean market. With strong adoption among local Chinese-speaking communities, Coinhako offers full Mandarin customer support, simplified onboarding, and mobile-first design.
Notable advantages:
- Localized user experience with bilingual interface
- Instant SGD transfers via FAST payment system
- Easy buy/sell functionality for over 20 digital assets
- Regular community engagement and investor education initiatives
Coinhako exemplifies how homegrown platforms can thrive by combining regulatory compliance with cultural understanding.
Why Chinese Investors Favor Regulated Singapore Platforms
For overseas Chinese investors, navigating crypto markets often involves balancing accessibility with trust. Many traditional offshore exchanges lack localized support or clear regulatory oversight—posing risks in terms of fund security and dispute resolution.
Singapore-based licensed exchanges address these concerns by offering:
- Language accessibility: Mandarin-speaking customer service reduces barriers
- Legal clarity: MAS licensing means clear accountability and dispute channels
- Fiat integration: Direct SGD banking links simplify deposits and withdrawals
- Cultural familiarity: Platforms like Coinhako understand regional investment behaviors
These factors make Singapore an ideal gateway for Chinese investors entering the regulated crypto economy.
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How to Choose a Safe and Compliant Crypto Exchange in Singapore
With increasing scrutiny on digital asset platforms, selecting the right exchange is critical. Use the following checklist when evaluating options:
1. Verify MAS Licensing Status
Check the official MAS Register of DPT Providers to confirm an exchange holds a valid license. Avoid unlisted or “in-application” status unless you fully understand the risks.
2. Assess Security Measures
Look for platforms that use:
- Cold wallet storage for 95%+ of assets
- Two-factor authentication (2FA)
- Regular penetration testing and bug bounty programs
3. Evaluate User Experience
A good exchange should offer:
- Clear fee schedules
- Responsive customer support (ideally in your preferred language)
- Mobile app availability and ease of navigation
4. Review Supported Assets and Payment Methods
Ensure the platform supports the cryptocurrencies you want to trade and offers convenient SGD onboarding via FAST, PayNow, or NETS.
Frequently Asked Questions (FAQ)
Q: Is cryptocurrency legal in Singapore?
A: Yes. Cryptocurrency trading is legal and regulated under the Payment Services Act. However, only MAS-licensed exchanges may provide DPT services.
Q: Can foreigners use Singapore crypto exchanges?
A: Most licensed platforms accept international users, but residency may affect verification processes and available features. Always check individual exchange policies.
Q: Are my funds protected if an exchange fails?
A: Unlike bank deposits, crypto holdings are not insured by the government. However, licensed exchanges must maintain sufficient capital reserves and follow strict custody rules to minimize risk.
Q: Do I need to pay taxes on crypto gains in Singapore?
A: The Inland Revenue Authority of Singapore (IRAS) treats crypto as property. While casual traders may not be taxed, frequent or business-like trading could incur income tax.
Q: Can I trade derivatives or margin trade on these platforms?
A: MAS restricts leveraged crypto trading for retail investors. Most licensed exchanges focus on spot trading only to promote responsible investing.
Q: How do I report suspicious activity on a crypto platform?
A: You can file a report directly with MAS through their online feedback form or via the national anti-scam center.
Final Thoughts: Building a Secure Crypto Future in Singapore
As Singapore continues to position itself as a leading fintech and digital asset hub, the role of licensed crypto exchanges becomes increasingly vital. For Chinese-speaking investors, the availability of compliant platforms with localized services marks a significant step toward inclusive and secure participation in the blockchain economy.
Choosing a MAS-regulated exchange isn’t just about legality—it’s about peace of mind. Whether you're new to crypto or expanding your portfolio, prioritizing licensed platforms ensures your investments are protected within a transparent, audited framework.
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By staying informed and selective, investors can confidently navigate Singapore’s evolving crypto landscape—turning regulatory clarity into long-term opportunity.