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Crypto.com has expanded its fiat payment infrastructure in Singapore through a partnership with DBS Bank, giving users additional channels for SGD and USD deposits and withdrawals.
The integration announced Wednesday allows Crypto.com users in Singapore to move local and U.S. dollar funds through banking rails facilitated by DBS, Southeast Asia's largest bank by assets. DBS will also provide client money accounts for Crypto.com customers, enabling transfers to and from the Crypto.com app.
The partnership operates under the Monetary Authority of Singapore's regulatory framework and adds to Crypto.com's existing banking relationship with Standard Chartered Bank in the jurisdiction.
The dual-banking setup gives Crypto.com multiple pathways for fiat on-ramps and off-ramps in Singapore, reducing dependency on a single banking partner. Client money accounts allow faster settlement compared to traditional correspondent banking arrangements.
Karl Mohan, EVP of financial services and general manager international at Crypto.com, described the move as enhancing the app experience for Singapore customers and accelerating regional crypto adoption.
"Singapore is our headquarters and a critical hub for our growth strategy. Working with the country’s largest bank, DBS, allows us to expand our provision of seamless SGD and USD transfers for our users,” said Chin Tah Ang, general manager Singapore of Crypto.com. “Deposits and withdrawals are already supported today, but we are proud to add greater accessibility and functionality to our retail services, in line with MAS regulations.”
Singapore has positioned itself as a regulated hub for digital asset services in Asia, with MAS granting licenses to major exchanges including Crypto.com. The regulatory clarity has attracted crypto firms seeking compliant operating environments, though MAS has maintained strict oversight and capital requirements for licensed platforms.
DBS has been active in digital asset services, offering custody solutions and facilitating institutional access to crypto markets. Crypto.com did not disclose transaction limits or fees associated with the new DBS banking channels. The company operates globally but has concentrated resources in Singapore following regulatory developments in other jurisdictions.
