Singapore’s crypto market is undergoing a noticeable shift as investors place greater importance on trust and platform reliability rather than simply choosing the cheapest option. This change, highlighted in new survey data released by MoneyHero and Coinbase, signals a maturing market where users are becoming more discerning about where they store and trade digital assets.
A parallel study from Independent Reserve reinforces this trend, painting a detailed picture of how Singaporeans now view crypto, what motivates their decisions, and why security has become a defining factor for the majority of users.
Trust Takes Center Stage
For years, low trading fees were the main selling point for exchanges targeting retail users. That narrative is rapidly changing.
According to the new findings, two-thirds of users now rank trust and security above fees, and investors—particularly experienced ones—are showing stronger preference for platforms that offer transparency, regulatory compliance, and reliable safeguards.
The MoneyHero–Coinbase survey, which polled 3,513 retail investors and crypto-curious adults, revealed that 61% of “finance-savvy” Singaporeans now hold crypto, one of the strongest adoption rates observed in the country.
This group is not only familiar with digital assets but also more cautious, with security concerns shaping their platform choices far more than fee structures.
The shift reflects a market that has weathered global exchange failures, asset freezes, and regulatory crackdowns. As one finding phrased it, investors are increasingly drawn to “more reputable platform(s)”—a clear sign of evolving expectations.
Ownership Declines but Confidence Holds Firm
Independent Reserve’s Singapore Crypto Market Survey, published by the licensed exchange, shows that although 94% of respondents are familiar with at least one cryptocurrency, active ownership dipped to 29%, down from 40% the previous year.
The decline suggests that some retail users reduced exposure following volatility in 2024–2025. Yet the same data reveals strong long-term interest:
- 53% of current holders plan to increase their crypto investments within the next year.
- 17% of non-holders intend to enter the market for the first time.
Bitcoin remains the backbone of Singapore’s crypto economy. 68% of crypto holders own Bitcoin, and 86% view it as a currency, a store of value, or a viable long-term investment. Optimism remains strong—77% expect Bitcoin to surpass $100,000 by 2030.
Despite the growth of ETFs and structured products globally, Singaporean investors still prefer direct custody of assets. 61% hold crypto directly, rather than through intermediaries such as exchange-traded funds.
Younger and Middle-Aged Investors Dominate Activity
Demographics in the survey reveal that 71% of Singapore’s crypto investors are between 25 and 54, up from 61% in 2024. This same age group accounts for 76% of those who trade weekly, underscoring the dominance of tech-aware, digitally active users.
Trading behavior is also becoming more strategic. 67% of respondents sold part or all of their holdings over the past year to capture price swings—a sign of increased arbitrage and short-term trading activity among more informed investors.
Independent Reserve Singapore President Lasanka Perera underscored Bitcoin’s persistent appeal, noting that:
“The decentralized design, scarcity and transparency are the reasons why many investors continue to trust it.”
These findings suggest that while day-to-day participation may have softened, long-term confidence in digital assets remains intact.
Regulation Continues to Shape Market Behavior
Singapore’s regulatory clarity is repeatedly cited as a key reason the city-state remains one of Asia’s most active blockchain hubs. Market participants appear to value the Monetary Authority of Singapore’s (MAS) strict but supportive approach.
In 2024, the MAS issued 13 new crypto licenses, more than double the number granted the previous year, extending approvals to platforms such as OKX, Upbit, and Anchorage.
Regulatory enforcement has continued into 2025. Mid-year, Bitget and Bybit began scaling down services after receiving final warnings to stop serving overseas clients without authorization. The decisions highlight Singapore’s insistence on compliance, even as interest in digital assets grows domestically.
This stance appears to reinforce investor trust rather than deter participation, aligning with survey results showing platform credibility is now a top priority.
Beyond Trading: Singapore Builds a Digital Asset Economy
Crypto activity in Singapore no longer revolves solely around buying and selling tokens. Institutional experimentation and cross-border collaboration are expanding the country’s role as a financial innovation hub.
Key developments include:
- MAS piloting tokenized MAS bills settled with a wholesale CBDC.
- DBS, OCBC, and UOB completing CBDC-based interbank lending trials.
- A regulatory partnership between MAS and Vietnam’s State Securities Commission to strengthen frameworks for digital assets.
- Retail-facing innovation, such as department-store chain Metro enabling USDT, USDC, and WUSD payments via Dtcpay.
Stablecoin usage is accelerating as well. Circle reported that the Asia-Pacific region handled $2.4 trillion in on-chain stablecoin flows between June 2024 and June 2025, placing Singapore among the top three stablecoin hubs worldwide.
Meanwhile, corporate infrastructure continues to grow. Coinbase recently launched Coinbase Business, offering tools for instant USDC payments and global transfers as part of MAS’s BLOOM Initiative for compliant cross-border transactions.
Looking Ahead: Trust as a Defining Metric
As more Singaporeans adopt digital assets, trust appears to be the defining factor shaping participation. Even with overall ownership down to 29% among the broader population, finance-savvy users remain active and committed—choosing reputable exchanges, increasing their holdings, and anticipating higher valuations in the future.
The new survey results point to a turning point in investor behavior: Singapore’s retail crypto market is no longer driven by cost alone. Reliability, compliance, and transparent operations now matter more than ever.
For platforms hoping to compete in the region, the message is clear—trust is no longer optional; it’s the deciding factor for the majority of users.
