Crypto.com Expands SGD, USD Rails in Singapore With DBS
- Crypto.com adds DBS banking rails to support SGD and USD deposits for Singapore users.
- The partnership introduces client money accounts to improve funds and transfer efficiency.
- DBS provides institutional custody using offline storage audits and layered controls.
Crypto.com has expanded its fiat-to-crypto infrastructure in Singapore through a new partnership with DBS Bank. The arrangement enables smoother SGD and USD deposits and withdrawals for local users. The services operate within the Monetary Authority of Singapore’s regulatory framework. The move deepens ties between licensed crypto platforms and traditional banks. It also reflects growing demand for reliable fiat access.
The update allows Singapore-based customers to move funds directly through DBS Bank. Users can deposit and withdraw both SGD and USD using the Crypto.com app. This improves the range and resilience of fiat rails available locally. The company framed the change as part of a broader effort to strengthen regulated access points. Could Singapore’s banking model become the preferred gateway for crypto exchanges in Asia?
Crypto.com executives linked the rollout to ease of use and compliance. They noted that faster and simpler transfers support broader participation. The company positioned Singapore as central to its regional operations.
Expanded Fiat Access Under MAS Rules
Crypto.com said the new capabilities improve the app experience for Singapore customers. Karl Mohan, EVP of Financial Services and General Manager International, said the launch reflects a focus on secure and regulated payments. He said the tools make it easier for users to interact with Crypto.com services. He also said the update supports crypto adoption across the region.
Chin Tah Ang, General Manager Singapore at Crypto.com, described Singapore as the firm’s headquarters and a core growth hub. He said working with DBS allows broader access to SGD and USD transfers. He added that deposits and withdrawals already exist today. He said the partnership increases accessibility while remaining aligned with MAS rules.
The statements point to compliance as a central theme. Singapore requires licensed platforms to meet strict standards. These include client fund segregation and operational controls. Crypto.com positioned the DBS tie-up within those requirements.
Client Money Accounts and Banking Infrastructure
DBS is Southeast Asia’s largest bank by assets. Through the partnership, Crypto.com gains access to additional banking infrastructure. This supports direct SGD and USD transfers to and from the app. The arrangement also includes support for client money accounts.
Client money accounts hold customer funds separately. This structure aligns with regulatory expectations in Singapore. It improves transparency around fiat flows. It also supports efficient processing of deposits and withdrawals.
Crypto.com stated that the accounts strengthen safeguards for user funds. The approach mirrors custody-style arrangements common in regulated finance. Banks provide infrastructure while avoiding direct trading exposure. This model has gained traction across Asia.
Related: Trump Media and Crypto.com Launch Truth Predict on Truth Social
Institutional Custody Standards and Market Context
DBS public materials describe institutional-grade custody controls. These include air-gapped cold storage and multi-layer key management. The bank also references hardware security modules and audited procedures. The design targets professional and institutional clients.
The custody framework uses defined access controls. Multi-party approvals reduce reliance on a single operator. Offline key storage limits exposure to online threats. Audits allow integration with corporate reporting systems.
Even so, the architecture narrows but does not remove risk. Institutions still need to review implementation details. These include key rotation practices and signing processes. They also assess whether independent key custodians participate in multisignature setups.
The regulated banking environment of Singapore continues to lure crypto companies. By implementing MAS licensing rules, minimum standards for asset segregation and AML controls were set. The likes of DBS are positioned to provide crypto platforms with regulated accounts. For Crypto.com users, the collaboration with DBS brings easier funding and a reduction of friction via compliant channels.
