Briefing

MAS says 37 digital payment token providers are licensed

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On 5 August 2026 the Chairman of the Monetary Authority of Singapore answered a parliamentary question on virtual asset service providers. The reply says those providers are regulated in Singapore as digital payment token service providers, that a licence has been required since the framework came into force in 2020, and that 37 providers are currently licensed.

A short row of licence marks, for a count of licensed providers rather than a new rule
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Key facts

  • The parliamentary reply is dated 5 August 2026.
  • MAS says 37 digital payment token service providers are licensed, from close to 300 applications.
  • The reply describes the licensing regime in place since 2020. It does not announce a new rule.

The question, from Ms He Ting Ru, asked what assessment had been made of money-laundering and proliferation-financing risks, whether existing safeguards were sufficient, and what further measures were intended. The answer was given by Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman of MAS, for the Parliament sitting on 5 August 2026.

The reply says MAS applies stringent licensing criteria and admits only applicants that can show systems and processes to mitigate the relevant risks and to comply with MAS regulations. Out of close to 300 applications, 37 digital payment token service providers are currently licensed. Most of the other applications were rejected, or were withdrawn when the applicants realised they could not meet the requirements. After a licence is granted, MAS says it keeps close supervision and has taken regulatory action against providers that fail to meet standards. The reply does not name those providers, and this briefing does not add names.

MAS also says it watches the sector for money-laundering, terrorism-financing and proliferation-financing threats, and that it reviews its rules as the risks and international standards change. It points to a Financial Action Task Force assessment of Singapore’s framework earlier in 2026, which the reply says recognised the strength of the system and MAS’s supervision of these providers. The reply does not set a new commencement date, a consultation deadline, or a change to what a licensed provider may do.

Why it matters for investors and traders

A reader can see how selective the Singapore licensing count is, and that a licence is still required before someone conducts these activities. The reply is not a list of approved brands and it is not a new product rule.

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Uncertainties

  • The reply does not name the 37 licensed providers or the firms that were rejected.
  • It does not say which further measures, if any, will be consulted on next.
  • A direct request for the MAS page on 22 October 2026 returned a maintenance notice after the reply text had already been retrieved from the same address. The figures above are the figures in that retrieved reply.

What to watch next

  • Treat this as an account of the existing regime, not as a rule that started on 5 August 2026.
  • Check the MAS register before treating any named firm as one of the 37. This page does not supply that list.
  • A later MAS consultation would be a separate document, with its own date.

How to read this development

Supervisory statementSingaporeMonetary Authority of Singapore

The official document is dated 5 August 2026. This briefing was published on 22 October 2026. A later status would be added as a new entry. The original status stays in the record.

Who is affected

Persons conducting digital payment token services in Singapore, and applicants for those licences. The reply does not name individual firms.

What changes

No new requirement is announced. MAS states that 37 providers are licensed out of close to 300 applications, and that supervision continues.

When it applies

The reply says the licensing framework came into force in 2020. The statement itself is dated 5 August 2026.

Status history

  • 5 August 2026. Supervisory statement. Parliamentary reply on the licensing regime already in place. No new rule was announced.

Markets, research and tools

Markets: Crypto markets

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MAS says 37 digital payment token providers are licensed | WiT Markets