Singapore tops crypto adoption index, overtaking UAE and U.S.
Singapore now ranks first worldwide in cryptocurrency adoption, according to a new ApeX Protocol study.
The city-state achieved a perfect composite score of 100, reflecting a surge in ownership as 24.4% of its population now holds digital assets—more than double the 11% recorded just a year ago, reports BeInCrypto.
It also recorded the highest global crypto-related search rate, with 2,000 queries per 100,000 residents. Analysts attribute this rapid rise to Singapore’s clear regulatory frameworks, including licensing for digital payment token providers and enhanced consumer protection rules. These measures have strengthened confidence among both retail and institutional investors. Combined with advanced technology infrastructure, Singapore has positioned itself as Asia’s leading hub for digital finance, with adoption expected to grow further despite global market volatility.
UAE builds momentum with progressive frameworks
The United Arab Emirates secured the second spot in the rankings with a composite score of 99.7, supported by 25.3% of its population owning cryptocurrencies. Adoption in the UAE has grown more than 210% in recent years, boosted by strong government backing and forward-looking regulations.
Dubai’s Virtual Assets Regulatory Authority (VARA) has attracted global exchanges by offering clarity for trading, custody, and blockchain services while maintaining international compliance. Abu Dhabi has followed with its own initiatives, solidifying the region as a magnet for crypto businesses. The UAE’s large expatriate population and remittance-driven economy provide natural demand for digital assets. Market observers expect the country to integrate crypto further into its financial system, reinforcing its role as a leading digital asset hub.
Global adoption accelerates beyond Asia
While Singapore and the UAE lead, other major markets also show strong momentum in crypto adoption. The United States ranked third with a score of 98.5, supported by more than 30,000 crypto ATMs and a 220% adoption increase since 2019. Canada followed in fourth place, recording the fastest growth at 225% alongside over 3,500 ATMs. Turkey took fifth, with 19.3% of its population owning crypto despite ongoing economic challenges.
Countries such as Germany, Switzerland, Australia, Argentina, and Indonesia are also expanding adoption through improved regulation and infrastructure. Analysts say this wave of growth signals digital assets are moving from niche investments into mainstream financial strategies, setting the stage for deeper integration into global markets.
Recently we wrote that Japan has emerged as the Asia-Pacific region’s fastest-growing crypto market in 2025, surpassing India, South Korea, and Vietnam in adoption.
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