Singapore’s cryptocurrency ownership rate rises to 26%, with young users dominating payment apps

PANews reports on April 8th that according to The Straits Times, the cryptocurrency ownership rate in Singapore reached 26% in 2024, rising from 24.4% in the previous year. Generation Z and Millennials (aged 16 to 44) are the primary users, with approximately 40% holding crypto assets, and over half using them for online shopping and bill payments. Nearly 67% of users indicate they will increase their cryptocurrency payment usage in the future. Data from Triple-A shows that the main advantages of crypto payments include global acceptance, transaction speed, and fee benefits. However, users generally have concerns about usage complexity and security. Meanwhile, Singapore's Web3 enterprise recruitment demand is robust, and MAS has issued 29 digital payment token licenses.