Survey: Singapore residents hold 26% of digital assets, with young users being the majority

On April 8th, a new study showed that the number of people in Singapore owning cryptocurrencies is increasing, with young users leading the way in using cryptocurrencies to meet daily financial needs such as online shopping and paying bills. The number of Singaporean residents owning cryptocurrency is increasing, and by 2024, the proportion of those owning digital assets will reach 26%, up from 24.4% in 2023. Among those who hold cryptocurrency, the majority (52%) have already used cryptocurrency to purchase goods and services, with 67% planning to increase their use of cryptocurrency for payments in the future. In addition, Generation Z and Millennials (i.e. those aged between 16 and 44 as of 2025) are leading in cryptocurrency holdings, with approximately 40% of them holding cryptocurrencies. Among this group of people, 41.1% use cryptocurrency for online shopping, 35.9% use cryptocurrency to pay bills, and 27% use cryptocurrency to purchase in store retail goods. (Straits Times)