Singapore Surges Past Regional Peers in Crypto Transaction Volume

Singapore's cryptocurrency transaction volume has surged to ¥44 trillion annually, outpacing the rest of the Central & Southern Asia and Oceania region. According to Chainalysis, this represents a 55.4% increase from the prior year period.

The growth is largely driven by institutional investors, with professional services used by financial institutions and other entities experiencing a 94% surge in transaction volume to $60 billion (approximately ¥9.5 trillion).

Chainalysis notes that this growth is concentrated among market makers, over-the-counter desks, and institutional brokers, with large-scale transactions on existing platforms accounting for the bulk of activity.