Singapore Dominates Crypto Tech Rankings, Outshines US: ApeX Study
(Crypto News)-18/12/2024
ApeX Protocol, a decentralized exchange (DEX) for derivatives trading, released a study evaluating countries through three core metrics. The factors include blockchain patents, jobs in blockchain and the number of crypto exchanges.
“Singapore is first as a global hub for blockchain innovation, excelling in both adoption and infrastructure development,” the study noted. The island nation has 1,600 blockchain patents, nearly 2,500 jobs related to blockchain and 81 crypto exchanges, leading to the highest composite score of 85.4.
Further, the results showed that the US stands out for its dominance in blockchain research, innovation, and job creation, globally.
The results shared with Cryptonews noted that South Korea leads in blockchain patent activity, showing its commitment to technological advancement.
“What stands out is how diverse approaches—whether through regulatory clarity, investment in talent, or fostering innovation—are paving the way for global adoption,” said a spokesperson from ApeX. “This reflects a broader shift toward decentralization and transparency, which are becoming essential in today’s interconnected economy.”
Hong Kong stands second in blockchain and crypto technology, supported by over 1,100 blockchain jobs and strong crypto exchange base.
Estonia and Switzerland followed closely with a higher composite score than the United States.
Estonia, the smallest population among the countries studied, achieves impressive results with 95 blockchain patents, 149 blockchain-related jobs, and 52 crypto exchanges, the study highlighted.
Singapore Emerges as Crypto Adoption Hotspot
Singapore has secured the top spot globally in crypto adoption this year, thanks to the growing technology and regulatory environment.
In addition, Singapore’s central bank implemented crypto custody and licensing requirements in April 2024. In August 2023, the Monetary Authority of Singapore (MAS) finalized its stablecoin regulatory framework. This includes new requirements for stablecoin issuers and detailed segregation and custody for customer assets.
“From stablecoins to central bank digital currencies (CBDCs), the global stance on digital currency adoption is becoming increasingly clear — and Singapore is no exception,” Jason Tay, Head of Commercial at StraitsX, told Cryptonews.
