Singapore crypto activity rose 55.4% to $284 billion, Chainalysis says, as CSAO region shrank 6.8%
Chainalysis put Singapore's crypto activity at $284 billion for July 2025 to June 2026, up 55.4%, while the wider CSAO region contracted 6.8%.
Why it matters
The figures put Singapore back at the top of the CSAO ranking on measured activity, but the lead depends on the measure: India still receives more through centralized exchanges. The MAS licensing requirement for firms serving overseas clients is the regulatory change both Cointelegraph and Bitcoin Insider tie to the shift from retail speculation toward institutional infrastructure.
Where the sources disagree
Figures that do not reconcile
Found by comparing the numbers in the reports automatically. They are differences, not yet confirmed to be about the same thing.
size of the move (rose)
55.4%
Cointelegraph
94%
Bitcoin.com News
Cointelegraph reports 55.4%, Bitcoin.com News reports 94% (41% apart).
Key facts
Singapore's crypto activity grew 55.4% year over year.
55.4 %Disputed figureReported by Cointelegraph
The broader CSAO crypto economy contracted 6.8% over the same period.
6.8 %Reported by Cointelegraph
Chainalysis told Cointelegraph the institutional growth was very concentrated and driven by high-volume activity from existing platforms rather than new services entering.
Reported by Cointelegraph
Singapore regained its position as the largest crypto economy in Central and Southeast Asia and Oceania, ahead of Australia at $173.1 billion and India at $135 billion.
Reported by Cointelegraph
The Monetary Authority of Singapore required local crypto firms serving overseas clients to obtain a license or exit in 2025.
Reported by Cointelegraph
What happened
Chainalysis reported Singapore's crypto activity at $284 billion in the year to June 2026, up 55.4% from the prior year, which put Singapore back ahead of India and Australia as the largest crypto economy in Central and Southeast Asia and Oceania. Institutional platform activity accounted for much of the gain, rising 94% to $60 billion, and Cointelegraph quoted Chainalysis saying that growth was concentrated among market makers, over-the-counter trading firms and institutional brokerages rather than new entrants. Bitcoin.com News dated the analysis to a Sept. 30 report covering July 1, 2025 through June 30, and reported that Singapore also saw exchange growth and net cross-border inflows; the same outlet quoted Daniel Yang, head of compliance at Singapore-based QCP Group, describing the shift as one that goes past trading returns to payments, treasury management and market infrastructure. Against that, the wider region shrank 6.8%, and Crypto.News reported India remained the region's largest centralized exchange market at $88.4 billion, ahead of Singapore at $82.3 billion and Australia at $79.3 billion, even as India's overall economy fell 14.7% to $135 billion. Bitcoin.com News added that the Philippines, Thailand and Vietnam accounted for 14.4% of global small-value transfers and that the Philippines, Thailand and Vietnam stood out for peer-to-peer transfers of small value. Cointelegraph also reported that the Monetary Authority of Singapore required local crypto firms serving overseas clients to get a licence or exit in 2025, which StraitsX CEO Tianwei Liu said cut speculative activity while leaving banks and large companies using blockchain in production. No outlet published Singapore's net capital flows or a breakdown of its institutional activity by firm.
How the story developed
- Update
Chainalysis publishes its 2026 Geography of Crypto report covering July 1, 2025 through June 30
The analysis putting Singapore at $284 billion and the region down 6.8% was dated Sept. 30.
- First report
First report by Cointelegraph
Singapore crypto activity grows 55% as broader region contracts
- Update
Cointelegraph publishes its report on Singapore's 55.4% rise and the regional contraction
Carries the Chainalysis quote that institutional platform growth was concentrated among existing platforms rather than new entrants, and the note on the 2025 MAS licensing requirement.
- Official statement
Official statement from Bitcoin.com News
Singapore’s Crypto Activity Hits $284 Billion as Institutional Activity Jumps 94%
- Update
Bitcoin.com News reports Singapore's exchange growth and net cross-border inflows
Carries QCP Group compliance head Daniel Yang's quote on payments, treasury management and market infrastructure, and notes the Philippines, Thailand and Vietnam handled 14.4% of global small-value transfers.
- Update
Crypto.News reports India led CSAO on centralized exchange inflows
Places Singapore second on that measure at $82.3 billion despite its larger overall economy, and puts India's economy down 14.7% to $135 billion.
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 30 Sept 2026, 13:00 UTC: Cointelegraph — 1 independent source, 1 reports
- 1 Oct 2026, 05:30 UTC: Bitcoin.com News, official — 2 independent sources, 2 reports
- 1 Oct 2026, 07:10 UTC: Crypto.News — 3 independent sources, 3 reports
- 1 Oct 2026, 07:33 UTC: Bitcoin Insider — 4 independent sources, 4 reports
Affected entities
Also mentioned: Hong Kong, U.S. Securities and Exchange Commission, Tether USDt, Circle, Ripple, Chainlink, International Monetary Fund
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Bitcoin.com News Company, official | Singapore’s Crypto Activity Hits $284 Billion as Institutional Activity Jumps 94% | Independent | |
| Cointelegraph Crypto media | Singapore crypto activity grows 55% as broader region contracts | Original | |
| Crypto.News Crypto media | India beats Singapore and Australia in centralized crypto exchange inflows | Independent | |
| Bitcoin Insider Aggregator | Institutional Crypto Trading Surges 94% as Singapore’s Volume Hits $284 Billion | Syndicated |
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