The Currency analytics
By Sakamoto Nashi
Banks won't touch them. Web3 companies in Singapore face a brutal reality as traditional financial institutions keep slamming doors shut, leaving nearly 60% of digital asset…
The Monetary Authority of Singapore isn't backing down from its tough stance on crypto companies, creating a perfect storm of regulatory pressure and banking blackouts.
Things aren't getting easier. Banks drag out client onboarding for months.
Chan Kang from ChainUp sees the double-edged sword clearly - Singapore's regulatory clarity gives structure but crushes companies with massive compliance bills.
Major players like Crypto.com and OKX, both landing spots on Singapore's Top Fintech Companies 2026 list, keep pushing the narrative that regulatory pain pays off.
Gracie Lin from OKX takes a different angle. She thinks banks being picky actually strengthens the ecosystem by forcing only serious companies to survive.
The central bank's latest ultimatum proves how serious regulators are about control.
MAS told Web3 firms to shut down overseas operations by June 30 or face penalties, sending a clear message that Singapore wants tight oversight of every crypto transaction.
Kang thinks policy tweaks could ease the pressure without sacrificing oversight. His wishlist includes better bank-Web3 collaboration frameworks, expanded regulatory sandboxes,…
The sandbox programs launched on March 1, 2025, give startups room to test products under regulatory watch, but slots are limited and competition fierce.
Banking relationships remain the biggest bottleneck for most firms. A Singapore Fintech Association survey from early 2026 found 40% of digital asset companies struggling with…
International players keep eyeing Singapore despite the obstacles. The city-state's position in Asia and commitment to clear rules attract companies willing to pay premium…
The regulatory squeeze shows no signs of letting up as Singapore tries to balance its fintech hub reputation with strict oversight demands.
Several major international banks have quietly implemented blanket policies against crypto clients across their Asian operations.
Meanwhile, Hong Kong's recent crypto-friendly policies are creating competitive pressure on Singapore's approach.