Singapore Stablecoin and Digital Asset Leadership Praised at APEC 2025 Summit
US Treasury Secretary Bessent Highlights Singapore’s Role
At the Asia-Pacific Economic Cooperation (APEC) 2025 summit in Gyeongju, South Korea, US Treasury Secretary Scott Bessent acknowledged Singapore’s leadership in stablecoin and digital asset adoption. The announcement came during a meeting with Singapore’s Prime Minister Lawrence Wong, as stated in an official US Department of the Treasury readout. The summit gathered world leaders to address global economic growth, energy security, and technological innovation.
Singapore’s Advances in Stablecoin and Digital Asset Sectors
Singapore has become a central player in the worldwide digital asset sector, despite its population of only 5.9 million. According to a December 2024 ApeX Protocol report, the city-state granted twice as many cryptocurrency licenses in 2024 compared to the previous year, reinforcing its role as a leader in stablecoin and digital asset regulation. The report also noted Singapore’s top positions in Web3 employment, registered crypto exchanges, and the number of blockchain-related patent filings.
Singapore’s innovative approach is balanced by regulatory measures. On May 30, 2024, the Monetary Authority of Singapore (MAS) directed cryptocurrency firms serving overseas customers to either obtain a license or exit the market. Reporting via Cointelegraph.
Global Recognition and APEC Summit Developments
In addition to his bilateral talks, Secretary Bessent highlighted at the APEC Economic Leaders’ Informal Dialogue that, through collaboration with APEC member economies, the United States has seen “record levels of capital being invested into advanced manufacturing and technology sectors,” according to the US Treasury.
Singapore’s digital asset prominence is reflected in other industry analyses. A September 2024 study by ApeX Protocol ranked Singapore as the world’s most “crypto-obsessed” nation, with nearly 25% of its population holding digital assets and leading search rankings for crypto-related topics. In October 2024, Singapore further established its leadership by hosting Token2049, a major global cryptocurrency conference.
For a broader context on cryptocurrency trends, visit the Vizi cryptocurrency section.
What’s Next for Singapore in Digital Assets?
Singapore continues to balance proactive digital asset innovation with regulatory oversight, drawing recognition from international leaders. The country’s actions and global standing reinforce its role as a model for stablecoin and digital asset policy, particularly as it maintains a careful approach towards licensing and market supervision for crypto service providers.
With ongoing international collaborations and regulatory updates, Singapore is expected to remain at the forefront of stablecoin and digital asset development within the Asia-Pacific region and beyond.
