Comparison with the Swiss route

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A Swiss reader will compare the DPT licence with the Swiss alternatives. These are affiliation to a self-regulatory organisation for an exchange or custodian that takes no deposits, a fintech licence under Art. 1b BankA where public deposits up to CHF 100 million are taken, or a full banking licence (see Part E, Chapters II and XII and Part F, Chapter II). The Singapore licence is more demanding than Swiss SRO affiliation in capital, technology and conduct, while being far less demanding than a Swiss banking licence. It has no counterpart to the Swiss fintech licence's deposit-taking permission. A Singapore payment institution may hold customers' tokens on trust and customers' fiat under safeguarding, but it may not accept deposits for its own account or pay interest on e-money.

The comparison that matters for structuring is time and certainty. Swiss SRO affiliation can be obtained in three to six months and allows a crypto exchange to operate lawfully in Switzerland while a FinIA or banking application proceeds. Singapore offers no comparable interim status to a new entrant: the firm either holds a licence, operates under a transitional exemption that closed in 2024, or does not operate. A group that wants to be in both markets therefore often starts in Switzerland and applies in Singapore from an operating base, which also answers the MAS question about the firm's regulatory track record.

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of October 2026.

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Dr Alexander Ressos, TEP

Of Counsel, KGP Legal LLC

I am Of Counsel with KGP Legal LLC in Singapore, where I work with a global client base of successful entrepreneurs and their families, independent asset managers, commodity trading houses and other commercial clients. I am a German and Swiss attorney-at-law, also admitted as a solicitor in England & Wales and in Hong Kong. I divide my time between Zug in Switzerland, Singapore and Hong Kong. Since 2017 I have advised international clients on more than 700 crypto and digital asset projects. I also have extensive experience in cross-border litigation and arbitration in Singapore, Hong Kong and other markets in South-East Asia and Greater China.

I operate across the key financial centres in South-East Asia, the Middle East and Switzerland, with a particular focus on asset protection, international tax and estate planning, as well as trusts, company administration and other fiduciary services. My philosophy is to serve as a trusted advisor working closely with my clients and to help them achieve their commercial objectives.

All Singapore law advice is provided through KGP Legal LLC, an established and duly licensed firm of Singapore advocates and solicitors.

KGP Legal LLC is a medium-sized law firm in Singapore that is capable of providing the full range of legal services and corporate administration work. Please contact me directly at [email protected] if you need any further information.

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SingaporeIQ is edited by Dr Alexander Ressos, an international business lawyer with more than 15 years of local experience in Singapore as a permanent resident, a Singapore registered foreign lawyer and managing partner of a Singapore foreign law practice. In addition to significant experience in cross-border investments and transactions, UHNWI private client work and sanctions/export controls, Dr Ressos has extensive experience in cross-border business and in crypto and digital-asset projects in Singapore, drawn from more than 700 projects since 2017.

If you are planning a company incorporation, an investment, a holding structure or a market entry through Singapore, you can reach Dr Ressos directly at [email protected]. Singapore law advice is provided by KGP Legal LLC, a licensed firm of Singapore advocates and solicitors. Dr Ressos and his team facilitate the full range of Singapore legal, compliance and company administration services, including company incorporation, corporate transactions, commercial contracts, crypto and digital assets, financial regulatory work and dispute resolution, including litigation in the Singapore courts. For legal, tax and fiduciary services in Switzerland, see helveticaregister.com.