A new report reveals that Singapore and the United Arab Emirates top the list of countries most “obsessed” with cryptocurrencies, driven by high adoption rates, strong online search activity, and pro-blockchain policies. This leadership marks a global shift toward financial digitalization.
A recent study published by ApeX Protocol ranks Singapore and the United Arab Emirates (UAE) as the most “crypto-obsessed” countries in the world. The report, which evaluates indicators such as cryptocurrency ownership rates, online search activity, technological infrastructure, and institutional participation, reveals that Singapore achieved a perfect score of 100 points, while the UAE closely followed with 99.7. These results highlight not only both nations’ enthusiasm for financial innovation but also their growing influence within the global blockchain ecosystem.
According to the data, roughly one in four citizens in both countries owns cryptocurrency. Singapore has a 24.4% ownership rate, while the UAE slightly surpasses it with 25.3%, the highest figure globally. Singapore also leads in digital engagement, recording nearly 2,000 monthly crypto-related searches per 100,000 inhabitants, reflecting the population’s rising interest in decentralized technologies, token investments, and Web3 opportunities. Meanwhile, the UAE has experienced a 210% growth in crypto adoption since 2019, strengthening its position as a global innovation hub. This expansion has been fueled by regulatory openness, tax incentives, and a strategic vision aimed at transforming Dubai and Abu Dhabi into global centers for blockchain development.
Although both countries share a strong enthusiasm for cryptocurrencies, their regulatory approaches differ. Singapore follows a “controlled innovation” model, attracting high-quality projects while safeguarding its financial reputation. The Monetary Authority of Singapore (MAS) requires all exchanges to hold licenses, even those serving foreign clients, prompting some companies to relocate to more flexible jurisdictions. In contrast, the United Arab Emirates has adopted a proactive, open-door strategy, establishing agencies like the Virtual Assets Regulatory Authority (VARA) in Dubai and the Abu Dhabi Global Market (ADGM). These economic zones provide tax benefits, legal clarity, and frameworks tailored to the fast-paced crypto market, drawing a wave of startups, investment funds, and trading platforms.
The leadership of Singapore and the UAE symbolizes not only technological enthusiasm but also a geoeconomic shift in the global crypto landscape. Traditionally dominated by the United States and Europe, the blockchain ecosystem is increasingly centered around regions with regulatory agility and long-term strategic vision. As Western legal frameworks face uncertainty (particularly in the U.S., where the SEC maintains a restrictive stance) these emerging hubs offer stability, incentives, and legal clarity, which are crucial for sustainable growth in the sector.
The fact that Singapore and the UAE top this ranking carries significant implications. Both countries are solidifying their status as preferred destinations for investment funds, startups, and blockchain projects seeking predictable regulatory environments. Their leadership also places pressure on other financial hubs like London, New York, and Hong Kong to modernize their legal frameworks or risk losing competitiveness. Moreover, their regulatory maturity could encourage greater institutional adoption, paving the way for participation from banks, insurance firms, and sovereign wealth funds in the crypto market.
In summary, Singapore and the United Arab Emirates are not merely “obsessed” with cryptocurrencies; they are redefining the global financial landscape. Through innovation, regulatory clarity, and mass adoption, these nations are positioning themselves as laboratories for the digital future, signaling a new era for the decentralized economy.
