Singapore Tops Crypto Adoption Rankings, Surpassing The US, Bybit Reports

TLDR

Table of Contents

Singapore leads in crypto adoption with 11% user penetration, highest globally.
The US drops to second place, while Lithuania ranks third for crypto adoption.
Stablecoin growth continues, especially with non-dollar-backed tokens gaining traction.
9.6% of workers globally now receive partial salaries in crypto, up from 3% in 2023.

In a new report, cryptocurrency exchange Bybit has revealed that Singapore has surpassed the United States to become the global leader in crypto adoption. The report, titled “The World Crypto Rankings 2025,” ranks countries based on metrics such as regulatory frameworks, institutional readiness, and user penetration.

Singapore’s Leadership in Crypto Adoption

According to the Bybit report, Singapore ranks first in terms of both user and cultural penetration. Over 11% of the population in Singapore owns cryptocurrency, making it the highest rate globally. This high user engagement is attributed to the country’s clear regulatory framework and mature institutional support. Singapore’s regulatory clarity has made it an attractive destination for major cryptocurrency exchanges and fintech firms.

Helen Liu, co-CEO of Bybit, commented on the report’s findings, stating that Asia-Pacific markets, including Singapore, are leading the way in crypto adoption due to their strong regulatory frameworks and grassroots momentum. “Asia-Pacific is setting the pace for the industry through regulatory leadership and widespread user engagement,” Liu noted.

US and Lithuania: Strong Institutional Readiness

Although Singapore has taken the lead, the United States and Lithuania are still strong contenders in global crypto adoption. The US scored highly in institutional readiness, making it an important player in the crypto space. However, the report noted that the US’s position slipped from first to second place, largely due to increased regulatory uncertainty in recent years.

Lithuania, on the other hand, placed third due to its robust regulatory environment and strong support for crypto onramps. Lithuania’s regulatory clarity has attracted several blockchain-related businesses, positioning it as a key European hub for digital assets.

Regional Growth and Trends in Crypto Adoption

Asia-Pacific has shown dominance in the crypto space, with six regional markets making it to the top 20. Vietnam ranks as the highest emerging market, with nearly 20% of its population owning digital assets. This adoption is driven primarily by grassroots efforts, with crypto being used for purposes like remittances and inflation protection.

Vietnam’s success underscores the role of decentralized infrastructures and the country’s position as a leader in transactional crypto use. Other Asia-Pacific nations such as Hong Kong and South Korea also ranked highly, with Hong Kong benefiting from a regulatory overhaul that has boosted user penetration.

In addition to user adoption, the report identified trends such as the rise of non-US dollar stablecoins. These stablecoins are increasingly being adopted as markets look for alternatives to the dollar. As digital currencies evolve, the emergence of local-currency-pegged stablecoins is expected to play a significant role in driving crypto adoption across the globe.

Growing Crypto Payrolls and Real-World Asset Tokenization

Another key finding from the Bybit report is the increasing trend of crypto payrolls. Nearly 9.6% of workers worldwide now receive partial payment in cryptocurrency, up from just 3% in 2023. This rise in crypto salaries reflects the growing integration of digital assets into the global financial system.

Moreover, the report highlighted the continued growth of real-world asset tokenization. Since January, tokenized assets have seen a 63% increase, reaching over $25.7 billion. This reflects the growing interest in tokenizing traditional assets, such as real estate and stocks, on blockchain networks.

The report also pointed out that Europe, particularly smaller countries like Lithuania and Switzerland, is making a significant contribution to the global crypto adoption landscape. These countries have created specialized regulatory environments that attract service providers and exchanges.

In conclusion, the Bybit report illustrates a shifting global crypto landscape. While Singapore has taken the top spot, the US, Lithuania, and other countries continue to play a pivotal role in the ongoing development of the crypto industry. As regulatory clarity and institutional support grow, the adoption of cryptocurrency is expected to expand across regions.