Straight to the answer: Binance once had an independent local version in Singapore, binance.sg, but it was permanently closed in December 2021. Currently, the only official entry for Singaporean users to access Binance is binance.com, just like most other countries. After the Monetary Authority of Singapore (MAS) added Binance.com to the "Investor Alert List" in September 2021, Binance strategically exited the local Singapore market and closed the binance.sg platform operated by Binance Asia Services Pte Ltd. For users still in Singapore or expats working there, using the international version is the only compliant and convenient solution. Users who want to visit the Binance Official Website should also download the Binance Official APP; iOS users can refer to the iOS Installation Guide.
The Ins and Outs of the Singapore Market
The story between Binance and Singapore has 5 key milestones:
- April 2019: Binance launched binance.sg, operated by Binance Asia Services Pte Ltd, targeting local Singapore residents.
- December 2020: Binance Asia submitted an application for a Digital Payment Token (DPT) service license to the MAS.
- September 2021: The MAS placed binance.com on its "Investor Alert List" and ordered Binance to stop providing unlicensed services to Singapore residents.
- December 13, 2021: binance.sg ceased all trading and withdrew its license application.
- February 2022: Binance acquired a stake in the local licensed HGX (Hg Exchange) via a strategic investment, but did not revive binance.sg.
As of April 2026, binance.sg remains closed. Visiting the domain only shows a static page indicating that "services have ceased."
What is the Singapore Entry Point Now?
Singaporean users currently have only one official entry:
- Domain: www.binance.com
- Language: Can be switched to Traditional Chinese, Simplified Chinese, or English
- Fiat Currency: Does not support direct SGD integration
- Compliance: International version, not directly regulated by the MAS
This is almost identical to the situation in Hong Kong—Binance treats Singapore as a "non-priority service" market, but does not actively block it.
5 Steps for Singaporean Users to Use binance.com
For specific usage, follow these steps:
- Step 1: Open www.binance.com and register an account using an email or phone number.
- Step 2: Complete basic KYC, upload a Singapore Identity Card (IC) or FIN card, and select "Singapore" as the region.
- Step 3: Bind 2FA (Google Authenticator) to bolster account security.
- Step 4: Deposit. Since SGD cannot be directly linked, buying USDT via P2P using PayNow/PayLah is the most common approach.
- Step 5: Transfer the purchased USDT to your spot account and start trading.
Note: It is correct for Singapore residents to select "Singapore" during KYC. Do not enter other countries to bypass restrictions; falsifying your region violates Binance's user agreement.
Fund Flow Paths for Singaporean Users
This is the question many people care about the most. Singapore does not have a direct SGD bank channel, but there are actually 3 mainstream methods:
Method 1: Buy USDT via P2P using PayNow/PayLah
- The most common method, with rates closest to market prices.
- Search for "SGD + PayNow" in the P2P market and choose highly-rated merchants.
- After an agreement, funds are sent directly to the seller via PayNow, while Binance escrows the USDT.
- The entire process usually takes 5-15 minutes.
Method 2: Credit Card Deposits
- Go to "Deposit → Credit/Debit Card" and select Visa or Mastercard.
- Some cards issued by DBS, UOB, and OCBC might be declined.
- Rates are about 2-3% more expensive than P2P; not recommended for large amounts.
Method 3: International Wire Transfer
- Suitable for large funds (usually over 50,000 SGD).
- Transferred via SWIFT to Binance's partner banks in Southeast Asia.
- Arrives in 1-3 business days.
- Fixed fee of 20-40 USD.
Two Pitfalls to Avoid
Two common pitfalls for Singaporean users:
Pitfall 1: Trying to log into binance.com with an old binance.sg account Accounts from binance.sg are not automatically migrated to the international version. If you previously registered on binance.sg, you must register a new account on binance.com; your old trading history will not migrate.
Pitfall 2: Believing in "Binance Singapore Agents" Advertisements for "Authorized Binance Singapore Agents" and "Licensed Token Exchanges" frequently appear in Telegram and local community groups. These are not official Binance entities. Binance does not use agents; any middleman is a third party.
Regarding the Relationship Between HGX and Binance
Binance invested in the local Singaporean exchange HGX in 2022, which many media outlets reported as a "backdoor return to Singapore for Binance." This description is misleading:
- HGX is an independent licensed institution; Binance is merely one of its shareholders.
- HGX's products are digital securities and security tokens (STOs), not mainstream BTC/ETH spot trading.
- HGX is not a replacement for binance.sg.
If you just want to buy mainstream coins like BTC, ETH, and SOL, HGX will not meet your needs; you still have to use binance.com.
FAQ
Q1: What will I see if I visit binance.sg now? You will see a static service termination page, directing users to "continue using binance.com." There is no login entry.
Q2: Will the Singapore MAS penalize residents for using binance.com? The MAS's alert is directed at platforms, not individual users. Holding cryptocurrencies as an individual is legal in Singapore, but it does not enjoy local investor protection.
Q3: My IC number has passed KYC. Do I still need to provide supplementary materials? If Binance's risk control triggers a secondary review, you may be required to submit proof of address (utility bills, bank statements). Simply upload them as prompted; they are usually processed within 24 hours.
Q4: Can Singaporeans trade Binance Futures? Technically, yes, but binance.com restricts derivatives in certain regions. Upon logging in and entering the Futures page, the system will prompt whether it is available.
Q5: Can I directly log into Binance using Singpass issued by the Singapore government? No. Binance does not support federated login with Singpass. The login methods are email or phone number plus password and 2FA.