US Treasury Praises Singapore’s Stablecoin Leadership
At the APEC 2025 summit in Gyeongju, US Treasury Secretary Scott Bessent praised Singapore’s stablecoin leadership and strong digital asset adoption. He noted Singapore’s crypto regulation balances innovation with stability, and that the Monetary Authority of Singapore (MAS) doubled stablecoin and digital asset service licenses for international firms in 2024. Bessent also highlighted record capital flows into fintech and blockchain via APEC initiatives. Reports place Singapore first in Web3 employment, registered exchanges and blockchain patents, with nearly 25% of its population holding digital assets—the highest globally. Hosting industry events like Token2049 further cements its reputation. The US endorsement is boosting investor confidence and driving bullish momentum for stablecoins and blockchain projects in the Asia-Pacific market.
Bullish
The US Treasury’s praise of Singapore’s stablecoin leadership at a major regional summit signals strong institutional support. The doubling of licenses, record capital flows, and leading rankings in Web3 metrics enhance credibility and attract capital. In the short term, this endorsement may boost stablecoin demand and trading volumes in APAC trading pairs. Long term, it could reinforce Singapore’s status as a crypto hub, encouraging further innovation and investment in stablecoin and blockchain projects.