UPBIT SINGAPORE PTE. LTD.

Crypto service provider · Singapore, Singapore

Upbit Singapore is the Singapore exchange of the Korean cryptocurrency group Upbit, operated by Dunamu. The Monetary Authority of Singapore granted it a Major Payment Institution licence in January 2024, which covers digital payment token exchange, custody and remittance under the Payment Services Act 2019. It sells and buys cryptoassets against the Singapore dollar and the stablecoin USDT. It is not a bank: it opens no business current accounts, takes no deposits and offers no cards, payments or foreign exchange for companies. The venue is also thin, listing only six assets on 8 September 2026.

Legal name: Upbit Singapore Pte. Ltd.
Regulated by: Monetary Authority of Singapore
Licence confirmed: yes, on a regulator's own list
Established: 2018
Website: sg.upbit.com

Scores, 0 to 10

6.5Crypto wallet and custody for a business

The MAS register lists Upbit Singapore as a Major Payment Institution for digital payment token service, and its sign-up page takes corporate applicants through corporate_sg@upbit.com, but it publishes no business controls such as multiple users or approval rules; business details come only from the sign-up page, checked September 2026. · source

6.5Bitcoin

Bitcoin can be bought, held and transferred on the MAS-licensed exchange, including by approved corporate accounts, with no business extras such as lending or Lightning found. · source

6.5Ethereum

Ether trades in SGD and, since July 2026, on the USDT market alongside other tokens; no staking for companies was found, and the USDT listing is reported by a secondary source only. · source

6.0On-ramp: buy crypto with fiat

Clients fund in Singapore dollars through bank-issued virtual accounts, per Upbit Singapore's 2024 service notices, and buy crypto on the exchange; corporate accounts are opened on application, but only SGD is supported and business limits are not published. · source

6.0Off-ramp: crypto to fiat in a business account

Crypto can be sold for SGD and withdrawn to a Singapore bank account under the MAS licence, but payout speed, limits and source-of-funds rules for companies are not published, checked September 2026. · source

6.0Stablecoins (USDC, USDT and others)

Upbit Singapore runs a USDT market since 2026 and added a USDG/USDT pair on Solana on 4 September 2026, so a corporate account can hold and move stablecoins, but it offers no supplier payouts; the listings are reported by secondary sources, not an official page I could open. · source

5.5Crypto-friendly bank

The company is itself a MAS-licensed digital payment token service provider, so a crypto business can trade here, but it provides no fiat accounts and no banking for crypto firms. · source

4.0Asia-Pacific (SG, HK, AU, JP, KR)

Licensed by the Monetary Authority of Singapore as a Major Payment Institution since January 2024, but the presence is one country, one fiat currency and six listed assets, with no local rails such as FAST or PayNow described anywhere reachable. · source

4.0Financial strength & stability

The parent Dunamu is a large Korean exchange operator, but the Singapore venue itself is thin, with about SGD 1,600 of turnover across its six Singapore dollar pairs in 24 hours and no published reserves or accounts. · source

3.5Lowest fees

No fee schedule is reachable: the site renders only in the browser and publishes no trading, deposit or withdrawal price list that can be read as a document. · source

3.5Fast digital onboarding

No published account opening time and no business onboarding path; sign-up is a digital asset account with know your customer checks, not a bank account. · source

3.5Customer satisfaction

No Trustpilot profile exists for sg.upbit.com and the company publishes no complaint or support data, so there is no customer satisfaction signal to score. · source

3.0Fintech companies that need a partner bank

No safeguarding accounts, correspondent banking or rail access for payment firms is published; the group's shared service to other firms is the VerifyVASP travel rule tool. · source

3.0Foreign-owned & non-resident companies

The licence, the Singapore dollar quote currency and the local scope point at Singapore customers, and no policy on foreign-owned or non-resident companies is published. · source

3.0High-risk verticals (iGaming, cannabis, adult, forex)

No prohibited business list or acceptable use policy is reachable on the site, so the stance on gambling, adult, cannabis and forex operators cannot be checked. · source

2.5Best interest on business balances

No deposit, savings or yield product appears anywhere on the site or in the licence announcement; balances are trading balances at an exchange. · source

2.0Cross-border payments, FX and multi-currency accounts

The only fiat quote currency is the Singapore dollar; there is no multi-currency account, no cross-border payment product and no published foreign exchange margin. One fiat currency, no accounts, no pooling, no host to host connection and no hedging. · source

2.0Startups & VC-backed companies

No startup product, no venture debt and no operating account; a young company can open a trading account and nothing more. · source

1.5Online businesses: e-commerce and SaaS

No acquiring, no collection accounts and no marketplace payouts; the platform buys and sells cryptoassets. No receiving accounts, no accounting integrations and no financing; a software company has nothing to use here beyond a trading account. · source

1.0Trade, manufacturing & import-export

No letters of credit, guarantees or supply chain finance. · source

1.0Business cards (Visa, Mastercard)

No debit or credit cards are issued; the platform is an exchange. · source

1.0Accept crypto payments

Upbit Singapore is a trading venue with no merchant checkout or invoice product; its 2024 licence announcement and site describe trading only, checked September 2026. · source

Sources

Built on public information and the BankStore team's own aggregated experience; no confidential client or partner data. Bank Index and BankStore are not banks. This is information, not financial advice.