In this article, I will cover the best crypto-friendly banks in Singapore. I will be focusing on banks that provide blockchain, digital asset custody, and multi-currency services. Singapore has quickly become a major crypto banking hub with regulated services.
Some of the big banks in the region like DBS Bank, OCBC Bank, and Standard Chartered Singapore have managed to create innovative products for institutional and corporate customers while managing the trade-off of such a new and evolving industry.
Why Choose Crypto-Friendly Banks in Singapore
Regulated Security: Cryptocurrency-friendly banks in Singapore are monitored by MAS and follow the rules of KYC and AML.
SGD Support: The main banks in Singapore integrate seamlessly with Singapore Dollar accounts and supports transacting SGD in and out of crypto.
Institutional Custody: Both DBS and Standard Chartered banks have custody services for digital assets and are geared towards corporates and funds.
Multi-Currency Access: Clients of these banks can transact all currencies to and from crypto.
Blockchain Innovation: OCBC, UOB some of the largest banks in Singapore, along with HSBC, are focused on blockchain for trade finance and transactions.
Global Reach: Citi, HSBC, and Bank of China offer cross border settlement and treasury services.
Crypto-Native Options: Silvergate Asia offers its services directly to crypto exchanges and other crypto related services and firms that require liquidity.
Balanced Models: Singapore offers both progressive and traditional banking models.
Benefits Of Crypto-Friendly Banks in Singapore
MAS Oversight: Singapore’s crypto‑friendly banks operate with the Monetary Authority of Singapore (MAS) oversight. Compliance with MAS requires adherence to global KYC/AML (Know Your Customer/Anti-Money Laundering) standards.
Regulated Digital Asset Custody: Digital assets backed by major institutions such as DBS and Standard Chartered are trusted to be custody digital assets.
Fiat-to-Crypto, Especially with SGD: No hassles to transact fiat to crypto, Singapore Dollar accounts included. Singapore is an interesting locale for crypto with multiple currency options offered by the banks
Multi-Currency Offerings: Banks such as Citi and SBI Digital Markets conduct cross border trade with currency conversions.
Innovation in Blockchain and Other Options: Banks such as OCBC and UOB, and HSBC respectively, provide options for trade finance with blockchain.
Innovation in Cross-Border Transactions: With Citi, HSBC, and the Bank of China, cross border treasury and settlement is a reality. Innovations includes liquidity settlement for crypto finance and for exchanges.
Crypto-Focused Options: If your interests lie in crypto, then look no further than Silvergate Asia. Singapore offers lots of options for everyone.
Key Points
| Bank | Core Services | Best For |
|---|---|---|
| DBS Bank | DBS Digital Exchange (DDEx), crypto custody, tokenized bonds | Institutions & HNW investors |
| OCBC Bank | Blockchain pilots, custody partnerships | Corporate clients |
| UOB | Tokenized trade finance, digital asset pilots | SMEs & enterprises |
| Standard Chartered Singapore | Zodia Custody, institutional crypto settlement | Asset managers & funds |
| HSBC Singapore | Tokenized securities, custody services | Global enterprises |
| SBI Digital Markets | Tokenized bonds & securities, MAS‑licensed | Institutional investors |
| ANZ Singapore | Blockchain trade finance, crypto payments | Regional corporates |
| Citi Singapore | Institutional custody, tokenized assets | Multinationals |
| Silvergate Asia (Singapore arm) | Crypto exchange banking, settlement services | Exchanges & fintechs |
| Bank of China Singapore | Tokenized trade finance, CBDC pilots | Cross‑border enterprises |
1. DBS Bank
As Singapore’s largest bank, DBS has the strongest Crypto Banking Score due to its digital exchange offering regulated crypto trading for accredited investors. At the mid-point, DBS provides full SGD support and multi-currency accounts, making it a great option for both retail and corporate clients. DBS has savings and current accounts, as well as institutional custody solutions, covering the full range of banking needs.
DBS’s banking model is traditional, but progressive, integrating blockchain into its treasury and wealth services. DBS’s robust multi-currency support allows for seamless forex and crypto-fiat conversions. Overall, DBS balances safety, regulation, and innovation, and is the premier crypto-integrated financial service in Singapore.
DBS Bank Details
- Key Features: Regulated crypto exchange and custody, multi-currency accounts
- Why It Stands Out: First major bank in Singapore to provide a licensed crypto trading platform
- Potential Limitations: Access limited to accredited investors, high entry barrier
- Crypto Banking Score: High. Strong integration with digital assets
- Banking Model: Hybrid. With traditional banking, forward-looking digital asset services
| Pros | Cons |
|---|---|
| Licensed crypto exchange for accredited investors | Limited retail access |
| Strong regulatory compliance | Higher entry barriers |
| Multi‑currency accounts | Focused mainly on institutional clients |
| Robust custody services | Conservative rollout of retail crypto |
| Leading digital innovation | Limited global crypto partnerships |
| Strong SGD support | Requires high minimum deposits |
| Integrated blockchain treasury services | Not ideal for small startups |
| Trusted brand reputation | Slower retail adoption |
2. OCBC Bank
OCBC has a moderate Crypto Banking Score due to its focus on blockchain rather than direct crypto trading. At the mid-point, OCBC Bank provides strong retail and corporate banking services, and SGD support. Its account types include personal and corporate accounts, as well as SME accounts, which have been cautiously exposed to digital assets through partnerships.
Its banking model is compliant and risk management focused, with some tokenization projects. OCBC’s multi-currency accounts support the ASEAN region’s trade flow. Overall, OCBC provides stability and cautious innovation to its clients who wish to engage in blockchain services.
OCBC Bank Details
- Key Features: Retail and corporate accounts, blockchain, ASEAN trade
- Why It Stands Out: Strong regional presence with blockchain
- Potential Limitations: No direct crypto trading, conservative
- Crypto Banking Score: Moderate. Blockchain focus, limited crypto exposure
- Banking Model: Traditional. Compliance-first with selective digital
| Pros | Cons |
|---|---|
| Strong ASEAN trade presence | No direct crypto trading |
| Reliable SGD support | Conservative approach |
| Retail & corporate account variety | Limited blockchain exposure |
| Focus on compliance | Slower digital adoption |
| Regional expansion strength | Less attractive for crypto startups |
| Stable financial model | Limited custody services |
| Good SME support | Not crypto‑native |
| Trusted brand reputation | Lower innovation pace |
3. UOB
United Overseas Bank (UOB) has a balanced Crypto Banking Score, leaning more toward blockchain infrastructure than retail crypto services.
Midway, UOB provides strong SGD support for all accounts types, including savings, current, and corporate accounts. UOB offers account types for retail, SME, and institutional banking, with a limited number of crypto custody partnerships.
UOB’s banking model is traditional, focusing on regional growth and the digitization of its operations. UOB supports multi-currencies, which helps facilitate the treasury management and cross-border trade within the Asia-Pacific region. Overall, UOB positions itself as a compliance-driven bank that gradually integrates crypto, making it an attractive option for corporates that prefer stability and a partial digital lending approach.
UOB Details
- Key Features: Retail, SME, and institutional accounts, Asia‑Pacific treasury services.
- Why It Stands Out: Balanced digital transformation with strong regional trade support.
- Potential Limitations: Limited crypto custody, slower adoption.
- Crypto Banking Score: Moderate – blockchain infrastructure, not retail crypto.
- Banking Model: Traditional – regional expansion with gradual digital integration.
| Pros | Cons |
|---|---|
| Balanced digital transformation | Limited crypto custody |
| Strong SGD support | Slower adoption of crypto services |
| Wide account variety | Conservative approach |
| Asia‑Pacific treasury expertise | Not crypto‑native |
| Reliable compliance | Limited blockchain innovation |
| Regional expansion | Focused on traditional banking |
| Multi‑currency support | Less attractive for startups |
| Trusted brand reputation | Moderate crypto score |
4. Standard Chartered Singapore
Standard Chartered Singapore has a high Crypto Banking Score, primarily due to its global crypto custody arm, Zodia Custody. Midway, Standard Chartered provides full SGD support for both retail and institutional clients. Standard Chartered offers a wide range of account types, including personal banking, institutional custody and treasury accounts.
Standard Chartered’s banking model is a hybrid of traditional banking and digital asset services. Standard Chartered is a strong competitor in multi-currency support for global trade and crypto-fiat conversions. Overall, Standard Chartered is the ideal choice for institutional investors and corporates looking for regulated digital asset custody.
Standard Chartered Singapore Details
- Key Features: Zodia Custody, global trade finance, multi‑currency accounts.
- Why It Stands Out: Leader in institutional crypto custody solutions.
- Potential Limitations: Focused mainly on institutional clients, less retail access.
- Crypto Banking Score: High – strong institutional crypto services.
- Banking Model: Hybrid – traditional banking plus advanced digital asset custody.
| Pros | Cons |
|---|---|
| Zodia Custody for institutional crypto | Focused mainly on institutions |
| Strong SGD support | Limited retail crypto services |
| Global trade finance expertise | Higher entry barriers |
| Multi‑currency accounts | Conservative retail rollout |
| Hybrid banking model | Not crypto‑native |
| Strong compliance | Limited innovation for retail |
| Institutional custody services | Requires large deposits |
| Trusted global brand | Narrow retail appeal |
5. HSBC Singapore
HSBC Singapore has a moderate Crypto Banking Score, as it focuses more on blockchain technology rather than direct crypto trading. Midway, HSBC provides strong SGD support for both retail and corporate accounts.
HSBC’s account types include savings, current, SME, and institutional accounts, with digital custody partnerships. HSBC’s banking model is conservative, focusing on compliance and the digitization of assets. HSBC also supports multi-currencies, which helps facilitate global trade and treasury operations.
HSBC Singapore provides a good level of security and international coverage, making it an attractive option for corporates interested in blockchain-based solutions that do not have direct exposure to cryptocurrencies and their volatility.
HSBC Singapore Details
- Key Features: Presence in both retail and corporate banking, tokenization, international/global reach.
- Why It Stands Out: Good international compliance and global treasury network.
- Potential Limitations: No direct crypto trading, slow pace of innovation.
- Crypto Banking Score: Moderate, blockchain applications and limited crypto custody.
- Banking Model: Traditional, conservative blockchain integration.
| Pros | Cons |
|---|---|
| Global treasury network | No direct crypto trading |
| Strong SGD support | Conservative adoption |
| Retail & corporate accounts | Limited crypto custody |
| Tokenization projects | Focused on compliance |
| Multi‑currency support | Not crypto‑native |
| Reliable brand reputation | Slower innovation pace |
| Strong SME support | Limited blockchain services |
| Stable financial model | Lower crypto score |
6. SBI Digital Markets
SBI Digital Markets, a division of Japan’s SBI Group, has a strong Crypto Banking Score thanks to its work with tokenized securities and digital assets. Midway, SBI Digital Markets provides SGD transactions for institutional clients. Its offering is quite narrow, focused on institutional clients for custody and trading of tokenized assets.
Its digital-first banking model incorporates blockchain technology into the capital markets. With its technology, SBI enables digital asset trading across borders with differing currencies. SBI Digital Markets is a niche player in Singapore, focusing on institutional clients for regulated tokenized securities.
SBI Digital Markets Details
- Key Features: Tokenized securities, institutional custody, cross-border trading.
- Why It Stands Out: Innovative model focused on the capital markets.
- Potential Limitations: Institutions only, no retail access.
- Crypto Banking Score: High, strong tokenization and digital asset focus.
- Banking Model: Digital-first integration of blockchain with securities trading.
| Pros | Cons |
|---|---|
| Focus on tokenized securities | Institutional‑only access |
| Strong crypto banking score | Limited retail services |
| Digital‑first model | Niche market |
| Custody for digital assets | Requires large capital |
| Cross‑border trading support | Not widely accessible |
| Blockchain integration | Limited multi‑currency retail |
| Strong compliance | Narrow client base |
| Innovative capital markets | Less attractive for SMEs |
7. ANZ Singapore
An average Crypto Banking Score for ANZ Singapore means they focus on blockchain adoption for trade finance rather than directly providing crypto services. For now, ANZ does provide SGD accounts for both retail and corporate clients, and offers a variety of accounts from savings and current accounts to corporate accounts, with some blockchain partnerships.
Their overall banking model is traditional with a focus on compliance and trade flows in the region. With their multi-currency support, ANZ helps clients with trade and treasury management in the Asia-Pacific. Stability and cautious innovation with regard to corporate clients involved in cross-border trade describes ANZ Singapore the best.
ANZ Singapore Details
- Key Features: Retail and corporate banking, trade finance blockchain pilots.
- Why It Stands Out: Extensive knowledge of trade finance in the APAC region.
- Potential Limitations: Inadequate crypto services, slow pace of adoption.
- Crypto Banking Score: Moderate, blockchain for trade, not crypto custody.
- Banking Model: Traditional, risk compliance-driven blockchain use.
| Pros | Cons |
|---|---|
| Strong Asia‑Pacific trade finance | Limited crypto services |
| Reliable SGD support | Conservative adoption |
| Retail & corporate accounts | Not crypto‑native |
| Blockchain pilots in trade | Limited custody |
| Multi‑currency support | Slower innovation pace |
| Trusted brand reputation | Lower crypto score |
| SME support | Focused on traditional banking |
| Stable compliance model | Less attractive for startups |
8. Citi Singapore
Citi Singapore has a strong Crypto Banking Score due to its global digital asset approaches. At the midpoint, Citi offers full SGD support for both retail and institutional accounts. Its account offerings include personal, corporate, and institutional custody accounts. Its hybrid banking model incorporates blockchain technology into both its treasury and capital markets businesses.
Citi’s strong multi-currency capabilities support the full range of global trades, including crypto-fiat conversions. From this vantage point, Citi Singapore is the clear leader in the space for institutional digital asset services, focusing on corporates and investors looking for regulated ways to gain access to the blockchain and crypto space.
Citi Singapore Details
- Key Features: International Treasury blockchain, institutional digital custody, international/global reach.
- Why It Stands Out: Leading international corporate digital custody and services.
- Potential Limitations: Corporate focus, no retail crypto services.
- Crypto Banking Score: High, strong institutional digital asset services and custody.
- Banking Model: Hybrid, integrates traditional banking with blockchain.
| Pros | Cons |
|---|---|
| Institutional custody services | Focused on corporates |
| Strong SGD support | Limited retail crypto |
| Global reach | Higher entry barriers |
| Blockchain treasury integration | Not crypto‑native retail |
| Multi‑currency accounts | Requires large deposits |
| Hybrid banking model | Conservative retail rollout |
| Strong compliance | Narrow retail appeal |
| Trusted global brand | Limited startup focus |
9. Silvergate Asia (Singapore arm)
Silvergate Asia, the Singapore branch of Silvergate Bank, has a strong Crypto Banking Score because of their crypto-native banking model. Midway, Silvergate Asia offers SGD accounts for institutional clients and focuses its account offerings on crypto exchanges and fintech companies.
Silvergate’s digital-first banking model provides crypto liquidity and settlement. With multi-currency support, Silvergate facilitates global crypto-fiat flows. Silvergate Asia is a niche player in the market, providing specialized banking services for crypto-native companies in Singapore.
Silvergate Asia Details
- Key Features: Crypto-banking, liquidity settlement, institutional accounts.
- Why It Stands Out: Focused on crypto exchanges and fintechs.
- Potential Limitations: Niche focus, no retail services.
- Crypto Banking Score: Very High – crypto-first banking model.
- Banking Model: Digital-first – specialized in crypto liquidity and settlement.
| Pros | Cons |
|---|---|
| Crypto‑native banking model | Niche focus |
| Strong crypto banking score | Limited retail services |
| Institutional liquidity settlement | Higher risk exposure |
| Multi‑currency support | Dependent on crypto market cycles |
| Specialized for exchanges | Not ideal for SMEs |
| Fast settlement services | Limited traditional banking |
| Strong compliance in niche | Narrow client base |
| Innovative digital model | Volatility risk |
10. Bank of China Singapore
Bank of China Singapore rates moderately on our Crypto Banking Scorecard, indicating a focus on blockchain technology for trade finance rather than institutionalized direct cryptocurrency services. Meanwhile, Bank of China Singapore branches provide SGD accounts for both retail and corporate clients, with account offerings ranging from savings and current accounts to SME and corporate accounts.
The bank’s overall strategy is more conservative, focused on compliance and the trade flows within the region. With its focus on cross-border trade and treasury management, the bank provides a relatively wide range of currencies. The bank provides a good option for corporates involved in regional trade.
Bank of China Singapore Details
- Key Features: Retail & corporate accounts, blockchain trade finance, multi‑currency.
- Why It Stands Out: Strong cross‑border trade finance network.
- Potential Limitations: Limited crypto custody, conservative approach.
- Crypto Banking Score: Moderate – blockchain adoption, not direct crypto.
- Banking Model: Traditional – compliance‑driven with cautious blockchain innovation.
| Pros | Cons |
|---|---|
| Strong cross‑border trade finance | Limited crypto custody |
| Reliable SGD support | Conservative adoption |
| Retail & corporate accounts | Not crypto‑native |
| Blockchain trade pilots | Slower innovation pace |
| Multi‑currency support | Lower crypto score |
| Trusted brand reputation | Limited startup appeal |
| Strong compliance | Focused on traditional banking |
| Stable financial model | Narrow digital exposure |
Conclusion
Singapore’s banking industry offers a rare combination of innovation and caution when it comes to crypto. On the innovation side, DBS Bank, Standard Chartered Singapore, Citi Singapore, and SBI Digital Markets, as well as others, provide crypto custody, tokenization, and blockchain services, and are at the forefront of institutional digital finance.
Other banks, such as OCBC Bank, UOB, HSBC Singapore, ANZ Singapore, and Bank of China Singapore, focus on compliance and blockchain and crypto-related trade finance services. These banks offer a stable environment, but crypto services take longer to develop.
Silvergate Asia focuses on the crypto market, serving banks and fintechs. Innovation, cautious compliance, and niche crypto banking models give Singapore a strong chance to be the prime global location for digital assets traded in a regulated environment.
FAQ
Which bank in Singapore has the strongest crypto integration?
DBS Bank and Standard Chartered Singapore lead with regulated crypto custody and trading platforms, giving them the highest Crypto Banking Scores.
Do all banks in Singapore support SGD accounts for crypto clients?
Yes, every major bank including OCBC Bank, UOB, and HSBC Singapore provides SGD support, though crypto services vary.
Which banks focus more on blockchain than direct crypto trading?
OCBC Bank, UOB, HSBC Singapore, ANZ Singapore, and Bank of China Singapore emphasize blockchain pilots and compliance rather than retail crypto.
Which institutions are best for institutional investors?
SBI Digital Markets and Citi Singapore stand out for tokenization, custody, and blockchain treasury solutions tailored to institutional clients.
Is there a crypto‑native bank in Singapore?
Yes, Silvergate Asia operates as a crypto‑native institution, specializing in liquidity settlement for exchanges and fintechs.
