Singapore Crypto Market Surges 55% Amid Regional Contraction
Singapore's cryptocurrency market saw significant growth in the year ending June 2026, bucking the trend of regional contraction. According to Chainalysis, the country's crypto activity rose 55.4% to $284 billion, making it the largest crypto economy in Central and Southeast Asia and Oceania (CSAO). This growth was largely driven by institutional platform activity, which increased 94% to $60 billion.
The majority of this growth came from 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 concentrated among existing platforms rather than new services entering the market.
Meanwhile, the broader CSAO crypto economy contracted 6.8% over the same period. The MAS has been working to tighten crypto regulation while supporting tokenization and stablecoins, which may have contributed to this growth in Singapore's institutional sector.