Singapore's crypto economy grew by 55.4% to $284 billion for the year ending June 2026, driven by a significant increase in institutional activity, which rose by 94% to $60 billion. Singapore confirmed its status as the largest crypto economy in Central and Southeast Asia and Oceania, despite an overall decline in the regional crypto economy by 6.8% during the same period, reported Chainalysis.
The bulk of the growth is attributed to activity on institutional platforms – among a small number of market makers, over-the-counter firms, and institutional brokers. Chainalysis noted: "The growth of Singapore's institutional platform ecosystem has been very concentrated and primarily marked by high volumes of activity on existing platforms, rather than a dynamic entry of new services."
In 2025, the Monetary Authority of Singapore (MAS) required local crypto companies working with overseas clients to either obtain a license or exit the market. According to Tianwei Liu, CEO of StraitsX, this reduced speculative activity, leaving more institutional players, including banks and large companies, using blockchain in production. MAS is also developing initiatives for tokenization and settlements: the BLOOM program supports trials with regulated stablecoins and tokenized bank money. On March 25, Ripple joined the initiative to test cross-border settlements using RLUSD.
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