MAS Requires Licensing for Overseas Digital Payment Token Service Providers

Monetary Authority of Singapore

Singapore

Published Jun 1, 2025

Summary

From June 30, 2025, Digital Payment Token Service Providers (DPTSPs) providing services solely to customers outside of Singapore relating to digital payment tokens must be licensed. MAS noted it has set a high bar for licensing due to elevated money laundering risks in such business models.

Key Changes

Licensing required for overseas-only DPTSPs
High licensing bar due to AML concerns
Enhanced due diligence requirements

Affected Industries

Cryptocurrency

Payment Services

Fintech

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Source

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Key Dates

PublishedJun 1, 2025

EffectiveJun 30, 2025

Added to RegIntelJun 1, 2025

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