TL;DR:
- The total cryptocurrency transaction volume in Singapore grew by 55.4% year-over-year to $284 billion during the twelve months ending in June 2026.
- Institutional platforms processed $60 billion over the same period, representing a 94% rebound compared to the previous cycle.
- The broader Central & Southern Asia and Oceania (CSAO) region experienced a 6.8% contraction in its crypto economy during this year-over-year cycle.
According to records from Chainalysis, by the close of June 2026, crypto activity in Singapore increased by 55.4% year-over-year, a period during which the financial hub reached a transaction value of $284 billion.
Central & Southeast Asia and Oceania's crypto economy shrank 6.8% this year.
But most major markets grew in at least one area, from institutional trading to cross-border stablecoin payments to peer-to-peer transfers.
Read on 🧵 pic.twitter.com/DCyOBtMAKT
— Chainalysis (@chainalysis) September 30, 2026
With this surge, the jurisdiction returned to the top spot as the largest crypto economy in the Central & Southern Asia and Oceania (CSAO) region. Regional metrics compiled by Chainalysis showed an overall decline of 6.8% across the remaining analyzed markets during the same cycle.
The local market’s momentum was concentrated in corporate infrastructure. Activity on institutional-facing platforms rose 94% year-over-year to reach $60 billion in transfers.
Chainalysis analysts pointed out that this expansion was driven by increased volumes executed by existing participants—such as market makers, over-the-counter (OTC) trading desks, and institutional brokers—rather than an influx of new entrants.
The rebound coincided with the implementation of stricter regulations imposed by the Monetary Authority of Singapore (MAS). In 2025, the regulator required local entities providing services to overseas clients to obtain an official license or halt operations.
Tianwei Liu, CEO of StraitsX, stated that the regulatory framework curtailed retail speculation within the territory. He added that the regulatory cleanup favored the retention of banks and institutions with commercial distributed ledger technology implementations.
Alongside these controls, the financial authority expanded its digital settlement initiatives. The Project BLOOM initiative, coordinated by the regulatory body, continues to assess the use of supervised stablecoins and tokenized commercial bank money. On March 25, 2026, Ripple joined this regulatory testing environment to trial cross-border transfers for trade finance using RLUSD.
Retail P2P Trading Takes Center Stage in Southeast Asia
In contrast to Singapore’s institutional profile, countries such as the Philippines, Thailand, and Vietnam accounted for the region’s highest retail adoption via peer-to-peer (P2P) transfers.
Data from Chainalysis indicated that these three territories recorded a combined 5.4 million P2P transactions under $10,000 between July 2025 and June 2026. This figure represented 14.4% of the global total for this transfer category, even though the three economies collectively represent just 2.5% of the global crypto market.
Notably, 80% of P2P transfers in these markets did not exceed $1,000. The average transaction value stood at $618, compared to the global average of $1,210.
In the Philippines, International Monetary Fund reports noted that digital asset use is closely tied to family remittances and personal savings. World Bank figures revealed that personal remittances accounted for the equivalent of 8.5% of the Philippine gross domestic product in 2025.
Meanwhile, media reports in Vietnam documented that P2P channels serve as the primary fiat off-ramp, as the Vietnamese dong lacks direct trading pairs on major global exchanges. Official records from Thailand’s Securities and Exchange Commission from September 2026 confirmed an uptick in transaction volumes linked tostablecoins, primarily USDT.
The report concluded that cross-border stablecoin flows in the region outpaced domestic payment volumes by 3.2 times. Thailand recorded $10.4 billion in domestic stablecoin movement, while Vietnam registered $6.9 billion in local transactions.
The Monetary Authority of Singapore is scheduled to release supplementary guidelines in the final quarter of 2026 regarding the admission of foreign-issued stablecoins within its local infrastructure.
