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| Dimension |
Pinned 🇱🇻 Latvia partly open Verified 2026-08-15
|
🇸🇬 Singapore
partly open
Verified 2026-08-15
|
|---|---|---|
| Licence type | MiCA CASP authorisation under Regulation (EU) 2023/1114, administered nationally by Latvijas Banka; specific Latvian implementing statute name not confirmed in this research pass. | Payment Services Act 2019 Digital Payment Token (DPT) service licence, held as a Standard (SPI) or Major Payment Institution (MPI) - most crypto firms are MPIs. Plus the newer DTSP regime (FSMA 2022 Part 9) and a finalised (not-yet-legislated) stablecoin issuer framework. |
| Regulator | Latvijas Banka (Bank of Latvia) is the lead CASP licensing/supervisory authority; sources note some residual/overlapping role for the FCMC on broader financial-market alignment, not fully reconciled in this pass. | Monetary Authority of Singapore (MAS) - central bank and integrated regulator; administers the PSA, the DTSP regime, the SFA and the stablecoin framework. |
| Capital requirement | Latvia capital requirement is included in the £349 pass. | Singapore capital requirement is included in the £349 pass. |
| Timeline to authorisation | Latvia timeline to authorisation is included in the £349 pass. | Singapore timeline to authorisation is included in the £349 pass. |
| Local substance | Latvia local substance is included in the £349 pass. | Singapore local substance is included in the £349 pass. |
| Application cost | Latvia application cost is included in the £349 pass. | Singapore application cost is included in the £349 pass. |
| Ongoing cost | Latvia ongoing cost is included in the £349 pass. | Singapore ongoing cost is included in the £349 pass. |
| Passporting | Latvia passporting is included in the £349 pass. | Singapore passporting is included in the £349 pass. |
| MiCA CASPs approved | Latvia mica casps approved is included in the £349 pass. | Singapore mica casps approved is included in the £349 pass. |
| Key restrictions | Latvia key restrictions is included in the £349 pass. | Singapore key restrictions is included in the £349 pass. |
| Recent changes | Latvijas Banka has issued multiple CASP licences during 2025-2026, including to SIA AlphaRoute and Backpack, and reportedly Paybis (May 2026, per one directory source). Latvia offers free pre-licensing consultations and a formal Innovation Hub. | DTSP regime (FSMA Part 9) commenced 30 Jun 2025 - Singapore firms serving only overseas customers must be licensed, and MAS 'will generally not issue' such licences (no transition). MPI DPT licensees ~37 by mid-2026. MAS revoked Bsquared Technology's MPI licence (May 2026). Stablecoin legislation still in drafting. |
| Difficulty rating | Latvia difficulty rating is included in the £349 pass. | Singapore difficulty rating is included in the £349 pass. |
Informational only, not legal advice. A delta compares the sortable figure only (capital, timeline, cost, difficulty, passporting, approvals); it is not a judgement on overall suitability. Verify with qualified counsel before acting.
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