ApeX Protocol

2024

Prime

Bitcoin

US Treasury Secretary Scott Bessent praised Singapore’s leadership in stablecoin and digital asset adoption during a meeting with Prime Minister Lawrence Wong on Friday, according to an official <a href="https://home.treasury.gov/news/press-releases/sb0298" rel="noopener noreferrer nofollow" target="_blank">readout</a> from the US Department of the Treasury.&nbsp;
The discussion was held at the Asia-Pacific Economic Cooperation (APEC) 2025 summit in Gyeongju, South Korea, where world <a href="https://www.koreatimes.co.kr/foreignaffairs/20251030/global-leaders-gather-in-gyeongju-for-apec-summit" rel="noopener noreferrer nofollow" target="_blank">leaders</a> are meeting to discuss global growth, energy security and technology.
Bessent also <a href="https://home.treasury.gov/news/press-releases/sb0297" rel="noopener noreferrer nofollow" target="_blank">told</a> APEC leaders during the Economic Leaders’ Informal Dialogue that through their work with APEC economies, the US is “seeing record levels of capital being invested into advanced manufacturing and technology sectors.”&nbsp;<iframe width="100%" height="315" src="https://www.youtube.com/embed/pUxcQDO30Jo?start=" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen loading="lazy" sandbox="allow-scripts allow-same-origin allow-popups allow-forms"></iframe>
APEC is an annual forum founded in 1989 that brings together 21 member economies to promote sustainable <a href="https://apec2025.kr/?menuno=2" rel="noopener noreferrer nofollow" target="_blank">growth</a> and economic cooperation across the Asia-Pacific region.
Bessent’s remarks come as he has been <a href="https://home.treasury.gov/news/press-releases/sb0291" rel="noopener noreferrer nofollow" target="_blank">traveling</a> across Asia alongside US President Donald Trump, making stops in Malaysia, Japan and South Korea.
Related: <a href="https://cointelegraph.com/news/maybe-a-hed-like-basel-committee-reviews-bank-crypto-asset-rules-amid-stablecoin-surge" rel="noopener noreferrer nofollow" target="_self">Basel Committee reviews bank crypto-asset rules amid stablecoin surge: Report</a>
<h2 id="singapore-leads-in-crypto-adoption">Singapore leads in crypto adoption</h2>
With a population of just 5.9 million, Singapore has evolved into one of the world’s most influential hubs for digital asset adoption and innovation.
A December 2024 report by ApeX Protocol found that Singapore granted twice as many cryptocurrency licenses in 2024 as it did the previous year. The study also identified the city-state as a global <a href="https://cointelegraph.com/news/singapore-crypto-licenses-web3-blockchain-leader" rel="noopener noreferrer nofollow">leader in Web3 employment</a>, the number of registered crypto exchanges and blockchain-related patent filings.
While taking an innovative stance on crypto, the country has also been enforcing regulations. A directive from the Monetary Authority of Singapore (MAS) on May 30 told <a href="https://cointelegraph.com/news/singapore-crypto-firms-deadline-overseas-digital-token-services" rel="noopener noreferrer nofollow">crypto companies offering services abroad</a> to get licensed or leave the country.
In September, another report by ApeX Protocol found that <a href="https://cointelegraph.com/news/singapore-uae-top-global-crypto-obsession-rankings" rel="noopener noreferrer nofollow">Singapore takes top spot in the world</a> as the most “crypto-obsessed” nation, with nearly a quarter of its population holding digital assets and topping global rankings for crypto-related searches.
In October, <a href="https://cointelegraph.com/news/solana-ethereum-queue-staking-etfs-bitwise-ceo" rel="noopener noreferrer nofollow" target="_self">Singapore hosted Token2049</a>, one of the world’s most influential crypto conferences.
Magazine: <a href="https://cointelegraph.com/magazine/defi-officially-unlocks-japans-yen-dbs-btc-options-asia-express/" rel="noopener noreferrer nofollow" target="_self">China officially hates stablecoins, DBS trades Bitcoin options: Asia Express</a>

US Treasury Secretary praises Singapore’s digital asset adoption at APEC

Table of Contents

Cointelegraph

Other articles published on Oct 31, 2025

Join our free newsletter for daily crypto updates!