How to Pay Contractors
in Singapore
Pay Singapore-based contractors via FAST, PayNow. Average settlement: < 30 seconds.
Singapore Payment Overview
Singapore Dollar · SGD
How You Pay in Singapore
You fund in USD, stablecoin (USDC/USDT), or BTC. Your contractor in Singapore chooses how they receive it. Bitwage handles the conversion and routing.
Compliance screened
Optimal rail selected
Payment Rails Available in Singapore
Choose the right rail for each contractor. Click for full setup instructions.
How Bitwage Works in Singapore
Bitwage connects your USD balance to Singapore's local payment infrastructure. You fund once, we route to each contractor via their preferred rail.
Fund Your Balance
Deposit USD into your Bitwage Balance. No need to pre-convert to SGD.
Add Contractors
Enter each contractor's payment details — CLABE, IBAN, wallet address, or local account number. Or upload a CSV.
Execute & Settle
Bitwage locks the FX rate, converts, and routes via FAST. You get a settlement confirmation for every payment.
Compliance Notes
Singapore contractors must declare all income to IRAS and may need to register for GST above the S$1M threshold. MAS regulations require Bitwage to perform AML/CFT screening on all payments into Singapore.
FX Considerations
The SGD is managed by MAS within a trade-weighted basket policy. It is highly stable. Bitwage locks the USD/SGD rate at execution for USD-funded payments, though rate variation is typically small.
Key Terms
Paying Contractors in Singapore FAQ
Common questions about SGD payments, local rails, compliance, and FX.
FAST (Fast and Secure Transfers) settles in under 30 seconds, 24/7. It is operated by the MAS and supported by all major Singapore banks including DBS, OCBC, UOB, and Citibank Singapore. Bitwage applies our fx rate lock at execution.
PayNow is MAS's proxy payment service built on top of FAST. Instead of requiring an account number, contractors provide a mobile number, NRIC/FIN, or business UEN as their PayNow ID. Both settle in under 30 seconds. See contractor payments for setup options.
Yes. masspay handles batch payment across multiple APAC currencies — SGD via FAST, INR via UPI, and PHP via InstaPay — all from a single CSV upload.
Airwallex is well-established in the APAC market but charges per-transfer fees. Bitwage offers flat-rate pricing at scale plus optional crypto payout rails. See our airwallex for a detailed comparison.
Yes. All client and contractor funds are held in fbo custody accounts, segregated from Bitwage operating capital. This ensures contractor funds are protected even in the unlikely event of a Bitwage operational disruption.
Ready to Pay Contractors in Singapore?
Fund your Balance once. Pay via FAST in < 30 seconds.