Singapore crypto activity grows 55% to $284 billion

Singapore's crypto activity grew by 55.4% to $284 billion during the year ending June 2026, according to Chainalysis. This growth occurred even as the broader Central and South Asia and Oceania (CSAO) region saw a 6.8% contraction, positioning Singapore as the largest crypto economy in that region.

The expansion was primarily driven by institutional platform activity, which surged 94% to reach $60 billion. This growth was concentrated among a small number of market makers, over-the-counter (OTC) trading firms, and institutional brokerages. While general exchange inflows rose by 30% and decentralized exchange (DEX) inflows increased by 69%, the institutional sector remains the primary driver.

This trend aligns with efforts by the Monetary Authority of Singapore (MAS) to tighten regulations while supporting digital asset settlement, stablecoins, and tokenization. Recent initiatives include the BLOOM program, which tests regulated stablecoins and tokenized bank money. Additionally, Ripple has joined efforts to test cross-border trade settlement using RLUSD.