The Monetary Authority of Singapore (MAS) is one of the most proactive regulators in embracing digital asset innovation. Its Payment Services Act (PSA) and Securities and Futures Act (SFA) together form the regulatory framework for digital assets.
RWA platforms operating in Singapore typically need to apply for a Major Payment Institution (MPI) license or a Capital Markets Services (CMS) license, depending on the nature of their business. The application process usually takes 6β12 months.
Key compliance requirements include KYC/AML procedures, investor suitability assessments, information disclosure obligations, and asset custody arrangements. It is recommended to engage a local compliance consultant early in the process.
MAS has indicated it will continue to support RWA tokenization innovation and is expected to release more detailed guidelines in the second half of 2026, further clarifying the regulatory boundaries for tokenized securities and funds.