Singapore’s fintech story has all the time been about velocity, however 2025 feels totally different. That is the yr when years of coverage work and infrastructure constructing transfer from pilot to manufacturing. Digital rails, information frameworks, and regulatory guardrails are actually carrying volumes, serving customers, and supporting exercise that stretches effectively past Singapore’s borders.
The Singapore Fintech Report 2025 captures this shift intimately. This yr, the report spotlights how Singapore’s self-discipline, coverage foresight, and execution are quietly redrawing the map of Asian finance.
MAS’s new Digital Token Service Supplier framework, for instance, has set a benchmark for digital-asset regulation, whereas the launch of the Singapore Funds Community and the operationalisation of Mission Nexus are turning cross-border interoperability from principle into actuality.
Right here’s how Singapore’s fintech evolution is unfolding.
The Monetary Actuality of Singapore’s Digital Banks
Singapore’s digital banks continued to realize floor in 2025, although profitability remained elusive throughout the board. Belief Financial institution led the pack with whole earnings of S$96.9 million, efficiently narrowing its losses by 27% to S$93.3 million, a near-breakeven efficiency in comparison with its friends.
GXS Financial institution recorded the steepest loss at S$145.4 million, whilst its earnings greater than doubled to S$29.6 million. MariBank adopted with a powerful whole earnings rise of S$24.4 million, although its losses of S$51 million have been solely marginally decrease than the yr earlier than.
ANEXT Financial institution generated S$44.9 million in whole earnings, however its losses deepened to S$37.2 million.
In the meantime, Inexperienced Hyperlink Digital Financial institution (GLDB) stood out as an exception. Its earnings surged 447% to S$47.8 million whereas losses plunged by 83% to just a bit over S$5 million, suggesting early indicators of operational stability.
Taken collectively, the outcomes paint an image of a maturing but uneven panorama. Singapore’s digital banks are clearly scaling, but the trail to profitability stays sharply divided. Some, like Belief Financial institution and GLDB, are edging towards stability, whereas others proceed to pursue progress.
The subsequent years will take a look at who can flip momentum into sustainable income.
Singapore’s Fintech Map for 2025
The Singapore Fintech Map 2025 highlights a vibrant and fast-evolving ecosystem, that includes 520 fintech firms, marking a notable improve from 2024.
The funds sector stays the most important class, accounting for 20.4% of all fintechs with 106 firms, probably a testomony to Singapore’s maturity in digital funds and cashless adoption.
Past funds, wealthtech (12.7%), regtech (12.3%), and controlled crypto service suppliers (8.1%) emerged as the following strongest verticals, underscoring Singapore’s shift towards compliance-driven innovation and asset digitalisation.
In the meantime, digital banks stay the smallest section with 5 licensed gamers: Belief, GXS, MariBank, ANEXT, and GLDB, all sustaining their presence because the authorized digital banks in Singapore.
The Newest Rundown on Cryptocurrency in Singapore
Singapore’s cryptocurrency market in 2025 displays a extra measured and controlled part of progress. Possession has eased to 29%, down from 40% in 2024, as traders adapt to stricter oversight and probably are taking are extra cautious stance.
The ecosystem itself stays lively, supported by 36 licensed Digital Cost Token Service Suppliers underneath the Financial Authority of Singapore’s framework.
Whereas retail participation has softened, utilization ranges stay constant. 57% of holders make no less than one crypto transaction every month, and 52% have used crypto to pay for items or providers. Youthful customers proceed to drive adoption, with Gen Z (40%) and Millennials (39%) accounting for many crypto holders.
Stablecoins are additionally gaining floor following the introduction of MAS’s regulatory framework in August 2024, signalling stronger belief in asset-backed digital currencies.
Regulation and Innovation Drive Singapore’s Monetary Progress
Singapore’s regulatory panorama noticed main advances in 2025, reinforcing its place as a trusted international monetary hub. Key milestones included the Safety from Scams Invoice in January, empowering police to freeze scam-linked accounts.
April noticed the debut of Nexus World Funds (NGP), supported by 5 Asian central banks, to boost cross-border fee connectivity. The month additionally marked the opening of the Nexus Technical Operator (NTO) tender to handle Nexus’s technical and operational features.
In June, the Financial Authority of Singapore (MAS) launched a regulatory regime for Digital Token Service Suppliers (DTSPs) serving abroad shoppers and, along with the Affiliation of Banks in Singapore (ABS), established SPaN, a nationwide framework for fee governance.
By July, Singapore moved nearer to a cheque-free financial system with the launch of EDP and EDP+, whereas in September, MAS and 4 main banks accomplished a quantum-safe banking trial, marking a leap ahead in cybersecurity.
The yr will conclude with the tenth Singapore Fintech Competition subsequent week, celebrating a decade of progress and collaboration throughout the monetary ecosystem.
Need the Full Image of Singapore’s Fintech Panorama?
This text affords only a glimpse into how Singapore’s fintech ecosystem has advanced in 2025, from digital banks edging nearer to revenue to new regulatory milestones shaping the following decade of monetary innovation.
The Singapore Fintech Report 2025 by Fintech Information Singapore dives deeper into funding tendencies, sector breakdowns, coverage updates, and key gamers driving Asia’s most superior fintech hub.
Obtain the complete report back to discover unique insights, information charts, and in-depth evaluation on what’s subsequent for Singapore’s digital financial system.
Featured picture: Edited by Fintech Information Singapore, based mostly on picture by pvproductions on Freepik
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