Home Capital Cryptocurrency

Singaporeans' cryptocurrency adoption growing; institutional interest piqued: Independent Reserve

Khairani Afifi Noordin
Khairani Afifi Noordin8/19/2021 2:44 PM GMT+08  • 7 min read
Singaporeans' cryptocurrency adoption growing; institutional interest piqued: Independent Reserve
Contributors include easy access to cryptocurrencies, clearer regulations as well as higher awareness.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Easy access to cryptocurrencies, clearer regulations as well as higher awareness as a result of more frequent headlines have contributed to Singapore being well ahead of its neighbours when it comes to cryptocurrency ownership.

Citing research reports and surveys done in the region, Independent Reserve Singapore managing director Raks Sondhi says 43% of Singaporeans own cryptocurrency, compared to just 4% to 19% recorded in markets such as Malaysia, Japan and Australia.

“Singaporeans, by and large, have a positive attitude towards cryptocurrencies. Contributing factors include the increasing number of cryptocurrency platforms available, easy onboarding process, regulatory clarity and consumer-focused policies as well as prominent news such as El Salvador making Bitcoin a legal tender,” says Sondhi.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.