How many digital currencies owners are there in Singapore?
It is estimated that over 550 thousand people, 9.40% of Singapore’s total population, currently own digital currency.
Digital currencies Market Sentiment in Singapore
Singapore is one of the few countries that openly support digital currencies and blockchain projects. According to the inaugural 2021 Independent Reserve Digital currency Index (IRCI) based on a poll of 1,000 Singaporeans from a representative background of gender, age and location, 43% of the polled respondents said they owned digital currency. From the results, Singapore appears to be much further ahead of the adoption curve when compared with other nations.
When it comes to adoption, 82% of Singaporeans that own digital currencies hold Bitcoin. Among them, 39% see them as investment assets, 25% see them as a store of value and 12% see them as money.
Bitcoin is in no doubt moving from a collectible asset to a medium of exchange as adoption grows and the market matures. Furthermore, among those aged 26 to 35, 75% said they believe digital currencies will become widely accepted by individuals and businesses.
Digital currencies’s rising popularity in Singapore
Vulcanpost: From DBS to Alibaba’s Ant Group, Here are 6 Companies in Singapore… – July 2021 As Bitcoin and other digital assets go mainstream, more companies are wanting a piece of the action. Singapore’s digital currencies-friendlier regulations are paving the way for the industry to grow and the fast pace of asset digitalisation is also a place of opportunity. This article shares 6 companies in Singapore that are expanding into the digital currency space.
NIKKEIAsia: Singapore emerges as Asia’s digital securities trading hub – March 2021 The city-state, one of Asia’s bigger financial centers, is emerging as a trading hub for digital securities, or security tokens backed by financial assets. Exchanges to trade these innovative securities are being set up by both local and external players, which hope to attract issuers and investors to their platforms. Growth in Singapore is also spurring initiatives in other Asian countries such as Thailand and Japan, confirming its regional hub status.
Licensed as a Major Payment Institution (MPI) by MAS, the Monetary Authority of Singapore. License number PS20200525. FinCen Registration number 31000227954985.
Licensed as a Payment Institution by the ACPR and registered as a Digital Asset Service Provider by the AMF under the aegis of Banque de France. Payment institution LEI: 969500VA4A8CRCS2N988 DASP No. E2023-079
Triple A Technologies Inc. is registered with the US Financial Crimes Enforcement Network (FINCEN) as a Money Service Business (MSB), number 31000249667463. Money Transmitter License Application (NMLS ID: 2514255)