Key stats
- 94% of Singaporeans aware of at least 1 type of crypto
- 68% of crypto investors hold Bitcoin
- 29% of Singapoereans own or have owned crypto
- 23% of Singaporeans believe Bitcoin will surpass $250,000 by 2030
- 28% of crypto investors hold a memecoin
- 57% of crypto owners are confident crypto will gain mainstream adoption
About IRCI 2025 (Singapore)
Now in its fifth year, the Singapore edition of the Independent Reserve Cryptocurrency Index (IRCI) 2025 surveyed an unbiased sample of 1,500 everyday Singaporeans in February 2025, designed to represent the nation as a whole.
The index is a single rating out of 100 designed to reflect four key aspects of Singaporean attitudes towards cryptocurrency: Awareness, adoption, confidence and trust.
The Index moved from 56 in 2024 to 43 in 2025.
This moderation reflects how crypto is taking root in Singaporeans’ financial consciousness, with awareness reaching a record high of 94%. Singapore is experiencing a distinct phase in the crypto cycle, marked by a selective bull market driven by strategic profit-taking and portfolio rebalancing.
Investor conviction has strengthened around quality assets such as Bitcoin. While awareness is high, fewer Singaporeans are adopting crypto, which highlights the continued need to build trust and familiarity in the asset class to grow the sector.
Download the full report to explore this year’s key insights across 40 pages.
Exploring new themes in 2025
In addition to deep-diving into the awareness, adoption, confidence and trust, this year’s IRCI report delve into three key topics of 2025:
- Singaporeans’ perception of President Trump’s influence on crypto (Page 11)
- Stablecoin gaining ground (Page 13)
- The rise of the memecoin (Page 25)
The Trump Effect
The United States’ increasingly pro-crypto stance under President Trump has had a noticeable impact on Singapore’s crypto landscape over the past year. His administration introduced crypto-friendly initiatives, including the creation of a strategic Bitcoin reserve and proposals to deregulate the digital asset space. This policy shift coincided with a major milestone, as Bitcoin surpassed US$100,000 in December 2024.
- 33% of Singapore respondents, including non-crypto investors, view President Trump as a positive influence on cryptocurrency.
- Among bullish crypto investors, 62% believe the trump administration is positive for the crypto industry.
- For those with over 10 years of crypto experience, support is unanimous, with 100% seeing Trump as a positive force for the industry.
Perception of the Trump effect based on investors’ experience in crypto
Stablecoins gaining ground
- Almost half of crypto investors own or have owned stablecoins (46%).
- One in two (53%) use stablecoins for payments, overseas transfers, decentralised finance (DeFi) and staking.
Stablecoins use cases
The rise of the memecoin
- 43% of Singaporeans are aware of at least one memecoin
- 28% of crypto investors report holding at least one memecoin.
- Ownership rates are highest among those aged 35-44 (30%) and 25-34 (28%).
- Dogecoin is the most held memecoin, with 18% of crypto investors owning it.
Memecoin ownership by age
Awareness
Bitcoin, Ethereum and Dogecoin remain top of mind.
- 91% of Singaporeans know of Bitcoin.
- 45% familiar with Ethereum.
Most known cryptocurrencies in Singapore
Adoption
- 29% own or have owned crypto in the last 12 months
- 49% of crypto investors sold part or all of their holdings in the last 12 months, 67% of this group made a profit
- 53% cite price volatility as a barrier to crypto investing, 32% want more consumer protection & regulation
Breakdown of crypto ownership by age
Barriers to crypto investing in Singapore
Confidence
Many investors are actively paring down their positions, reflecting a wave of profit-taking and strategic rebalancing.
- While more investors now own multiple types of crypto (79%)
- 65% hold between 2 to 5 different types of crypto with 75% say they made money or broke even.
- Those who owned 11+ types of crypto were the least likely to report profits, with 40% saying they lost money.
Investment allocation in crypto
Conviction is built over time.
- 57% crypto investors believe crypto will achieve mainstream adoption (vs 19% of non-investors)
- 52% of those with 6 years+ experience report profits compared to just 36% of those with less than a year’s experience.
- All investors with 10+ years of experience will recommend crypto.
Will cryptocurrency gain mainstream acceptance by businesses and everyday people?
Trust
- 58% say that clarity in regulation would help increase their trust in cryptocurrency
- 47% want crypto companies to behave responsibly and ensure the safety of their crypto assets
- 44% say stability in price would increase their trust in crypto, while 42% think more education is the trick
Key drivers of trust in cryptocurrency among Singaporeans
Expert commentaries
- Singapore’s crypto investors pivot to quality amidst tariff turbulence by Mark Wong, Head of Trading, Independent Reserve Singapore (Page 32)
- Addressing the weakness in public understanding of the regulatory effort in Singapore’s evolving crypto landscape by Hannah Puganenthran, Head of Compliance, Independent Reserve Singapore (Page 38)
- Designed for Scale: RLUSD Is Built for the Future of Enterprise Payments by Fiona Murray, APAC Managing Director at Ripple (Page 16)
