Methodology · Singapore

How the Singapore tracker is built. Data is official and read from MAS on every build.

Sources

• MAS Financial Institutions Directory, filtered to the activity “Digital Payment Token Service” (38 institutions, read 21 Oct 2026), and each institution's detail page for licence types, payment services and website. If a read fails, the last good copy is used.
• Name searches in the same directory for the major firms shown as absent.
• MAS releases for dates and quotes: PS Act, DTSP regime, stablecoin framework, 2021 parliamentary reply.

Source Hierarchy

1. official MAS, Singapore Statutes Online.
2. company Crypto.com's Singapore terms, used only to link Foris DAX Asia Pte Ltd to the Crypto.com brand.
3. press · secondary none used.

Labels

• MAS licensed (DPT): listed in the directory with the activity Digital Payment Token Service.
• Not in MAS directory: a major firm with no institution of that name in the directory. If one appears, the build stops for review.
• Services: DPT only, or DPT plus other payment services in the same licence.
• Licence types: whether the company is also a Capital Markets Services licensee.

Limits

• Exempt entities, applicants and in-principle approvals are not in the directory and not covered. MAS's Investor Alert List could not be read at the time of writing and is not used.
• Licences under other Acts are shown only as listed in the directory.

Corrections

Write to press@vasptracker.com with the page and the source. Published corrections: none.