Singapore | 2021

Digital currency Adoption and trends in Singapore in 2021



of Singaporeans
own digital currency

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


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