Remitting from DBS Singapore to Circle (USDC)

This post will guide you on using DBS remit to send SGD to a USD account via DBS.

1. Preparation

  • DBS linked mobile phone or OTP token
  • ID documents if you do not already have a Circle account

2. Setting up your Circle account

Head over to and click Sign Up if you don’t already have an account, else login with your credentials.

Note: You would have to go through identity verification before you will be able to use the platform.
Do follow the steps and provide the requested documents

Click Tokenize USD and select Add Bank from the dropdown menu.

Fill in the form as follows

Bank information

Bank account information

An email will be sent to confirm adding your new bank account.
After confirming your new account, you will be able to select it from the Tokenize USD screen
Enter your desired transfer amount and click Continue

Leave this window aside and open a new tab/window.

3. Access DBS and setup overseas remittance

In the new tab, head to the dbs online portal and sign in with your credentials

Hover over the Transfer tab and click DBS Remit and Overseas Transfer and Authenticate your login with your 2FA device

Click New Recipient on the bottom of the left column

Enter the details as follows, you can copy paste them from the Circle site in your other window.

Check the box if you agree to the terms and conditions, press next, verify the details and save the recipient.
The same process can be used to set up remittances to foreign currency accounts in general

4. Making the transfer

Hover over the Transfer tab and click DBS Remit and Overseas Transfer again.
The overseas Recipients should be populated with Circle Internet Financial Inc
Click Transfer to start your transfer
Enter the amount you would like to remit


Enter your Circle transaction memo in the Comments section.
This memo is required for Circle to tag the amount to your account.
Do note that your reference will be different from mine.

Click next, Verify the details and submit your transfer.

5. Conclusion

You’re all done, now just sit back and wait for the transfer to reflect in your Circle account
Once the deposit is in, your USD will automatically be converted to USDC which you can transfer to exchanges such as Binance to purchase Bitcoin, Ethereum and Altcoins.

Click here for our guide on how to purchase cryptocurrencies with stablecoins on Binance.

6. FAQ

Frequently Asked Questions:
How long does the transfer take?
The transfer typically takes 1 working day to clear. First time transfers may take longer.
Do note that the transfer will be sent by DBS in Singapore working hours and processed by Silvergate in US working hours.

What happens if I forget to include the memo?
Do not worry, remittances have a tracking number and DBS will contact you to resolve the error. Note that this might take some time as Silvergate has to manually trace the origin and contact a representive in DBS.

Is it possible to contact Circle?
Yes, you can contact Circle support here

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