Singapore crypto activity grows 55% as broader region contracts

Singapore’s crypto activity rose 55.4% to $284 billion in the year ended June 2026, bucking a regional contraction and regaining its position as the largest crypto economy in Central and Southeast Asia and Oceania (CSAO), according to Chainalysis.

Much of the growth came from institutional platform activity, which increased 94% to $60 billion, concentrated among a small number of market makers, over-the-counter trading firms, and institutional brokerages. Chainalysis said the broader CSAO crypto economy contracted 6.8% over the same period. 

“The growth in Singapore’s institutional platform ecosystem was very concentrated and marked by mostly high-volume activity by existing platforms rather than the dynamic entry of new services,” Chainalysis told Cointelegraph. 

The findings come as Singapore has been working to tighten crypto regulation while supporting tokenization, stablecoins and digital-asset settlement.

In 2025, MAS required local crypto firms serving overseas clients to obtain a license or exit, a move StraitsX CEO Tianwei Liu said reduced speculative activity while leaving more institutional players, including banks and large companies, using blockchain in production.