Singapore Financial License Full Analysis How Many Do You Know?

Singapore, as one of the world's important financial centers, has a well-established financial regulatory system and a diverse licensing framework. In recent years, with the rapid development of financial technology and the continuous inflow of international capital, Singapore's financial industry has been expanding continuously, and the compliance requirements for various financial institutions have become increasingly stringent. Understanding the types of financial licenses in Singapore and their applicable scope is crucial for businesses and individuals wishing to operate in Singapore.

Currently, the Monetary Authority of Singapore MAS is primarily responsible for the approval and regulation of financial licenses in Singapore. MAS has established a series of regulations to ensure the stability and transparency of the financial market and to protect investors' interests. According to the latest policy adjustments and industry developments, Singapore's financial licenses can generally be divided into the following categories

1. Securities Dealer License

A securities dealer serves as a bridge between investors and the securities market, providing trading services. According to MAS regulations, any company engaged in securities trading must obtain the corresponding license. In recent years, with the rise of online trading platforms, more and more fintech companies have entered the securities brokerage business. For example, in 2025, the local digital broker Finage announced that it had obtained a securities dealer license from MAS, marking its official entry into formal operations.

2. Asset Management License

Asset management companies provide services such as portfolio management and fund establishment for clients. These companies typically need to have certain professional capabilities and risk management mechanisms. In 2025, MAS released a revised draft of the Financial Services and Markets Act, further clarifying the compliance requirements for asset management companies, including enhanced client asset segregation and increased transparency. This has made more international asset management firms willing to use Singapore as their regional headquarters.

3. Insurance Brokers License

Insurance brokers act as intermediaries in the insurance market, helping customers choose suitable insurance products. In early 2025, MAS updated the regulatory framework for the insurance industry, emphasizing the importance of digital transformation. For instance, Prudential Singapore introduced AI technology to optimize customer experience and obtained a new insurance brokers license.

4. Digital Payment Token DPT Business License

With the development of cryptocurrencies and blockchain technology, Singapore has become one of the leading regulatory jurisdictions for digital assets in Asia. In 2025, MAS introduced the DPT license, allowing qualified companies to legally conduct digital payment token business. In 2025, several well-known cryptocurrency exchanges, such as Binance and Coinbase, applied for and obtained relevant licenses in Singapore, showing the country's open attitude toward the digital currency sector.

5. Investment Adviser License

Investment advisers provide professional services such as financial planning and investment advice. MAS requires all investment advisers to hold the appropriate license to ensure they have sufficient professional knowledge and a good integrity record. In 2025, MAS strengthened its review of investment advisers, especially for emerging independent financial advisory platforms, requiring them to submit more detailed compliance reports.

6. Foreign Exchange FX Broker License

The foreign exchange market is one of the largest financial markets in the world, and Singapore, as a financial hub in the Asia-Pacific region, has attracted a large number of FX brokers. MAS regulates these institutions strictly, requiring them to have sufficient capital and risk control mechanisms. In 2025, the local FX trading platform XTrade successfully obtained an FX broker license, further strengthening its position in the Asia-Pacific market.

7. Credit Institution License

Credit institutions include banks, credit card companies, and consumer finance companies, which provide loan services to individuals and businesses. MAS has strict regulations on capital adequacy and liquidity management for these institutions. In recent years, with the development of financial technology, many non-traditional financial institutions have also entered the credit business. For example, Ant Bank, part of Ant Group, established a branch in Singapore and applied for the relevant license.

In addition to the above main licenses, there are also specific types of licenses, such as the Private Fund Manager License and the Insurance Agent License, which apply to different niche areas.

Overall, Singapore's financial licensing system is both rigorous and flexible, aiming to balance market innovation with risk control. For companies wishing to establish or expand their operations in Singapore, understanding and obtaining the appropriate financial license is not only a legal requirement but also an important means to enhance competitiveness. In recent years, MAS has also actively promoted the development of financial technology, encouraging companies to use new technologies to improve service efficiency. For example, in 2025, MAS launched the Fintech Acceleration Program, offering funding support and regulatory sandbox opportunities to eligible startups, which undoubtedly provides more enterprises with convenient access to the Singapore market.

In summary, Singapore has a wide range of financial licenses covering multiple fields, from traditional finance to emerging technologies. Companies should choose the appropriate license type based on their business nature and actively monitor the latest policy updates from MAS to ensure compliance and sustainable development.