“Over Half of Singaporeans Embrace Cryptocurrency, Boosting Country’s Financial Landscape”

According to a new report from Coinbase and Seedly, more than half of Singapore’s “finance-forward” residents are now investing in cryptocurrency.
The survey, released on February 22, revealed that 57% of those interviewed hold digital assets, with the majority investing between $1,000 and $25,000.
In a blog post, Coinbase expressed their enthusiasm for these results, stating that it solidifies their belief in the power of decentralized technologies to expand access to financial services and shape the future of finance.
Among Singapore’s cryptocurrency users, staking has emerged as the most popular activity in the past year, with 55% using centralized exchanges and 38% utilizing decentralized finance apps.
Coinbase also emphasized the importance of consumer protection in the staking process and advocated for regulated options.
Despite the volatility of the cryptocurrency market, Singaporeans remain optimistic about its long-term potential, with 56% seeing it as the future of finance and 46% expecting price increases in the next 12 months.
Furthermore, 54% of respondents reported using stablecoins and 35% use cryptocurrency for remittances, aligning with Singapore’s efforts to increase the utility of digital assets.
With recent regulatory crackdowns in the United States, many cryptocurrency companies are turning to Singapore for growth opportunities.
For example, Ripple CEO Brad Garlinghouse announced plans to hire 80% of their employees from countries with better digital asset regulations than the US.
Coinbase, which considers Singapore a “priority market,” received a payments license from the city-state in October, allowing them to offer digital payment token services to individuals and institutions.
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