Singapore's crypto economy reached $284 billion in the year ending June 2026, marking a 55.4% growth. This increase contrasts with a 6.8% contraction in the broader Central and Southeast Asia and Oceania region. Institutional platform activity in Singapore rose by 94% to $60 billion, driven primarily by existing market makers and brokerages.
Regulatory changes in 2025 required local firms serving overseas clients to obtain licenses. The Monetary Authority of Singapore continues to support tokenization and stablecoin initiatives, including the BLOOM program. Ripple joined this program in March 2026 to test cross-border trade settlements using RLUSD.
In the Philippines, Thailand, and Vietnam, small-value peer-to-peer transfers remain significant. These nations recorded 5.4 million transfers under $10,000, accounting for 14.4% of the global total. Over 80% of domestic P2P transfers in these markets were below $1,000, with an average size of $618.
Stablecoin adoption is increasing across the region, with cross-border activity exceeding domestic volume by 3.2 times. Thailand and Vietnam reported domestic stablecoin markets of $10.4 billion and $6.9 billion, respectively. In the Philippines, remittance companies are exploring stablecoin settlement to reduce costs for workers.
