Singapore Crypto Market Booms as Broader Region Contracts

Singapore's cryptocurrency market has seen significant growth in recent years, bucking the trend of contraction in the broader region. According to Chainalysis, Singapore's crypto activity rose by 55.4% to $284 billion in the year ended June 2026, making it once again the largest crypto economy in Central and Southeast Asia and Oceania (CSAO).

The growth was largely driven by institutional platform activity, which increased by 94% to $60 billion. However, this growth was concentrated among a small number of market makers, over-the-counter trading firms, and institutional brokerages.

Chainalysis noted that the growth in Singapore's institutional platform ecosystem was 'very concentrated' and marked by high-volume activity from existing platforms rather than new services entering the market.