Singaporean investors’ appetite for crypto is key to mainstream adoption

As Singapore continues to play an active role in boosting crypto adoption across the Asia-Pacific region, the country’s first licensed crypto exchange Independent Reserve conducted a retail-focused survey to better understand the underlying potential of the regulated market.

Independent Reserve’s survey — conducted across all age groups and genders of the Singapore population — revealed a strong affinity for various financial opportunities brought forward by decentralized finance (DeFi) and other investment opportunities.

As explained by Raks Sondhi, managing director of Independent Reserve Singapore, the country’s rapid crypto adoption is driven by high level of trust and confidence in the future of crypto:

“58% [Singaporeans surveyed] perceive Bitcoin as an investment asset or a store of value.”

Supporting the above trend, more than half of the surveyed individuals showed a likeliness to recommend cryptocurrency investments to their friends and family. In 2021, nearly 60% of investors in Singapore believed in crypto’s potential to reach mass-scale adoption. This year, however, 15% of the respondents have started considering Bitcoin (BTC) as a real form of money.