During the APEC 2025 Summit in Gyeongju, South Korea, US Treasury Secretary Scott Bessent commended Singapore for its rapid progress in stablecoin regulation and digital asset adoption. The summit, which gathered leaders to discuss global growth, energy security, and technology cooperation, provided a key platform for Bessent to recognize the city-state’s growing influence in the financial technology landscape.
He highlighted the strong capital investments in advanced manufacturing and technology sectors across APEC economies, noting that Singapore stands out for combining innovation with robust regulatory oversight.
Singapore’s Digital Asset Growth and Regulation
With a population of around 5.9 million, Singapore has become a global hub for digital finance and blockchain innovation. In 2024 alone, the country issued twice as many cryptocurrency licenses as the year before, reflecting rising institutional and retail interest in the sector.
Singapore also ranks among the world’s leaders in Web3 employment and blockchain patent filings, demonstrating its commitment to building a sustainable digital economy. At the same time, authorities have implemented strict licensing requirements for crypto firms operating internationally, ensuring financial integrity and consumer protection remain top priorities.
Singapore Named the Most Crypto-Engaged Nation
A recent report identified Singapore as the world’s most “crypto-obsessed” nation, with nearly 25% of its population owning digital assets. The country’s enthusiasm for emerging technologies was also on display when it hosted the influential Token2049 conference in October—one of the largest global gatherings for blockchain and Web3 innovators.
As Bessent noted, Singapore’s balance of innovation and regulation positions it as a model for digital asset adoption among APEC members and beyond.
