SG · SGD
Singapore digital banks
Singapore is the HQ city for Airwallex and a launch market for Revolut, Wise, and Aspire. MAS digital bank licences (Grab-Singtel, GXS, MariBank, ANEXT, Green Link) are a different set from the global apps. This page mixes both so a founder searching “business account Singapore” sees the actual menu: local digital banks versus global multi-currency platforms. SDIC protection only applies to member banks, not to EMI wallets.
16Live on the desk
Regulator
Monetary Authority of Singapore (MAS)
Deposit scheme
SDIC covers eligible SGD deposits at member banks up to S$100,000
In this market
Licence still sits on the product| Product | Score | HQ | Monthly | FX | Users | Licence | |
|---|---|---|---|---|---|---|---|
 Interactive Brokers | 8.6 | Greenwich, United States | No inactivity on many accounts | Institutional-grade FX; a reason people open it | 3.3M accounts | Broker-dealer / FCM | |
 Wise | 8.6 | London, United Kingdom | Free personal | Mid-market plus a transparent conversion fee — the category benchmark | 16M+ | EMI (personal) | |
 Revolut | 8.6 | London, United Kingdom | Free | Fair-usage weekday mid-market; weekend markup on Standard | 50M+ | UK bank (eligible customers) | |
 Airwallex | 8.3 | Singapore, Singapore | Account often free | Transparent conversion + payment fees; typically beats banks | 150k businesses | Payments / EMI-class licences by market | |
 Kraken | 7.9 | San Francisco, United States | Maker-taker | Tight on majors vs retail Coinbase | 13M+ | US MSB + exchange | |
 Aspire | 7.7 | Singapore, Singapore | Free starter | Competitive on SEA corridors | 25k businesses | Payments with partner banks | |
 Exodus | 7.6 | Omaha, United States | Free wallet | Swap partner spread | 4M+ | See review | |
 Binance | 7.6 | Global / remote, United Arab Emirates | VIP fee tiers | Spot/futures fees; tight on liquid pairs | 200M+ | VASP / exchange licences by country | |
 RedotPay | 7.5 | Hong Kong, Hong Kong | Free virtual | Stablecoin to fiat conversion + scheme FX | 2M+ | Card programme + VASP stack | |
 Coinbase | 7.5 | San Francisco, United States | Free to hold | Spread on the retail app; Advanced is tighter | 100M+ | MSB + state money transmitter / trust | |
 MetaMask | 7.4 | New York, United States | Free | MetaMask Swaps aggregator fee | 100M+ | See review | |
| Wahed | 7.3 | New York, United States | AUM fee on portfolios (live rate on site) | Conversion inside the portfolio, not a Wise clone | 300k+ | Investment adviser / manager — confirm the local entity | |
 Kast | 7.3 | Singapore, Singapore | Free virtual | Stablecoin conversion + scheme FX | Tens of thousands of firms | Stablecoin account + Visa BIN | |
 Bybit | 7.3 | Dubai, United Arab Emirates | Derivatives fee schedule | Trading fees | 50M+ | VASP by market | |
 Crypto.com | 7.2 | Singapore, Singapore | Card tiers gated by CRO stake (terms change — verify) | FX on card + spread on crypto sell | 80M+ | Exchange + card programme by market | |
 Wirex | 7.1 | London, United Kingdom | Free + paid X-tras | Crypto sell + scheme FX | 6M+ | EMI (UK) |
Closed in this market
Graveyard| Product | Score | HQ | Monthly | FX | Users | Licence | |
|---|---|---|---|---|---|---|---|
| FTX | 5.2 | Nassau / Hong Kong, Bahamas | — | — | Bankrupt | See review |
Do not open. Full file sits in the graveyard.
Questions
Is Airwallex a Singapore bank?+–
Airwallex is a payments and global-accounts platform headquartered in Singapore. It is not a full-service Singapore retail bank and SDIC does not apply the way it does to DBS or a MAS digital bank.
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PeruCross-check the scoring weights and the graveyard before you treat a leftover landing page as live.