Chainalysis: Singapore's cryptocurrency economy grew by 55.4%, reaching a scale of 284 billion USD

According to Chainalysis data, as of June 2026, Singapore's cryptocurrency economic activity grew by 55.4% year-on-year over the past year, reaching a scale of 284 billion dollars, regaining its position as the largest crypto economy in Central Asia, Southeast Asia, and Oceania amid an overall contraction in the region. The increase was mainly contributed by institutional platforms, with such activities surging by 94% to 60 billion dollars, concentrated in a few market makers, over-the-counter trading firms, and institutional brokers. During the same period, the total crypto economy in the aforementioned region declined by 6.8%.

Chainalysis pointed out that the growth of Singapore's institutional ecosystem is highly concentrated, primarily reflected in large transactions on existing platforms rather than the entry of numerous new services. At the same time, Singapore is tightening cryptocurrency regulations while promoting tokenization, stablecoins, and digital asset settlements. In 2025, the Monetary Authority of Singapore (MAS) required local crypto companies providing services to overseas clients to obtain licenses or exit the market. StraitsX CEO Tianwei Liu believes this measure curbed speculative activities and increased the proportion of banks and large enterprises applying blockchain in production. MAS is also conducting a pilot for compliant stablecoins and tokenized bank deposits through the BLOOM program, with Ripple joining on March 25 to test cross-border trade settlements using RLUSD.

The Philippines, Thailand, and Vietnam excel in small P2P transfers. Chainalysis statistics show that the three countries collectively conducted 5.4 million domestic and foreign peer-to-peer transfers under 10,000 dollars, accounting for 14.4% of global similar transactions, but only representing 2.5% of the global crypto economy.