Key Takeaways
- A recent survey indicates that Singapore’s retail crypto market is maturing, with investors prioritizing trust and regulation over low fees when selecting platforms.
- 61% of finance-savvy Singaporean investors currently hold cryptocurrency, viewing it less as a speculative tool and more as an asset for long-term investment.
- A significant portion (58%) of crypto holders are long-term investors, with 42% holding investments for over two years, indicating a shift towards sustained engagement.
- Social media is a primary source of crypto education for 62% of respondents, highlighting both opportunities for information dissemination and risks of misinformation.
- Singapore maintains a progressive yet strict regulatory environment for cryptocurrencies, with the Monetary Authority of Singapore (MAS) reinforcing stability and tightening rules on unregulated stablecoins and overseas activities.
Singapore’s retail cryptocurrency market is evolving, with traders increasingly valuing trustworthy platforms over those offering lower fees, according to a recent survey.
On Thursday, a joint survey by finance platform MoneyHero and crypto exchange Coinbase revealed that 61% of finance-savvy investors in Singapore now own crypto. The survey highlighted that trust has become the primary factor in choosing exchanges, surpassing the importance of fees.
The data suggests a shift in Singapore’s crypto ecosystem, moving beyond the pursuit of the cheapest exchange to a greater emphasis on regulated frameworks, security, and long-term conviction.
📍 The study, which included 3,513 retail investors and crypto-curious individuals in Singapore, also found that 58% identify as long-term holders, with 42% having maintained their investments for over two years.
Additionally, the data indicated that respondents typically allocate less than 10% of their overall portfolios to crypto, holding an average of three tokens. This suggests a balanced approach to investment, combining discipline with diversification.
Long-Term Investment Plans Among Retail Investors
The survey results signal deeper adoption of cryptocurrency in the region. A 61% ownership rate among finance-savvy Singaporeans demonstrates that cryptocurrency is no longer a niche market.
⚡ According to the survey, 27% of non-holders expressed interest in investing in the next 12 months, indicating significant potential for further growth in the region.
Regarding how investors perceive crypto, the survey results showed a split. Forty-four percent of respondents consider cryptocurrency an asset, while 29% view it as a tool for speculation.
When it comes to education, social media emerged as one of the major information sources for respondents.
The results showed that 62% of respondents cited social media as their primary source for crypto education. Researchers noted that this presents both opportunities and risks regarding misinformation.
Following social media, 55% mentioned friends and family, while 43% cited news and media. Exchange blogs were identified as primary educational sources by 27% of respondents.
Confidence in cryptocurrency knowledge was divided, with 48% expressing confidence and 52% indicating a lack of confidence in their understanding.
Singapore’s Progressive Yet Strict Regulatory Framework
Singapore has long been recognized as a prominent financial hub, characterized by low corporate taxes, pro-business regulations, and an AAA rating from the international credit rating agency Fitch.
The island city-state was also among the pioneers in crypto regulation. In 2020, it enacted its Payment Services Act (PSA) of 2019, one of Asia’s first comprehensive legal frameworks for crypto. This law defined digital payment tokens (DPTs) as digital representations of value, stored or traded electronically.
While Singapore is considered a progressive crypto hub, it is also a highly regulated jurisdiction.
In June, the country mandated local crypto firms to cease overseas activities targeting foreign markets, requiring them to halt operations or face severe penalties, including a $200,000 fine or up to three years of imprisonment.
The Monetary Authority of Singapore (MAS), the nation’s financial regulator, declared that there would be no grace period, transitional arrangements, or extensions for these directives.
Most recently, Singapore signaled an upcoming crackdown on unregulated stablecoins. On November 13, MAS Managing Director Chia Der Jiun stated that stability needs to be reinforced, noting the inconsistent record of unregulated tokens in maintaining their pegs.
He added that regulations would need to be strengthened over time as stablecoins become more systemic within the financial landscape.
Final Thoughts
Singapore’s retail crypto market is maturing, with investors increasingly prioritizing trust and regulation over fees when choosing platforms. This shift, coupled with high ownership rates among finance-savvy individuals, signals a deeper adoption and long-term outlook for cryptocurrency in the region. The country’s strict yet progressive regulatory approach continues to shape a secure environment expected to foster further responsible growth in the digital asset space.
