Singapore and UAE Ranked as the World’s Most Crypto Obsessed Countries

• Singapore’s crypto ownership surged from 11% to 24.4% in just one year.
• UAE leads globally with 25.3% of its population owning crypto.
• The US ranks third due to having over 30,000 crypto ATMs.
• Canada’s adoption rate grew by 225% since 2019, placing it fourth.

Singapore and the United Arab Emirates (UAE) have been recognized as the world’s most “crypto-obsessed” countries, according to a new report by ApeX Protocol. These nations are leading the way in terms of cryptocurrency ownership, adoption growth, and search activity. Singapore secured the top spot with a perfect score, while the UAE followed closely behind, marking rapid adoption rates. The study points to an increasing role of cryptocurrency in shaping global financial landscapes.

High Ownership Rates in Singapore and the UAE

Singapore has emerged as the leader in cryptocurrency adoption with 24.4% of its population owning crypto, marking a significant increase from 11% in 2021. The nation also leads in search activity, with 2,000 crypto-related queries per 100,000 people, reflecting a growing public interest in digital assets.

The UAE ranks second with an impressive 25.3% of its population holding crypto. This marks a notable jump in adoption, especially considering the country’s 210% increase in crypto adoption since 2019. In 2022, over 34% of the UAE’s population reported owning digital assets, further cementing the country’s position as a global crypto hub.

Key Indicators Used in the Report

ApeX Protocol’s report assessed each country’s engagement with cryptocurrency using four primary indicators: ownership rate, adoption growth, search activity, and the availability of crypto ATMs. These metrics provided a comprehensive view of how different nations are embracing cryptocurrency.

For both Singapore and the UAE, these indicators showed strong performance. Both countries scored highly in ownership rates and adoption growth, highlighting their deep integration of crypto into their financial ecosystems. As crypto continues to shape the future of finance, these nations are setting benchmarks for others to follow.

US Leads in Crypto ATM Availability

The United States ranked third in the report with a score of 98.5. One of the key factors behind this ranking is the country’s infrastructure, particularly its widespread availability of crypto ATMs. The US leads globally with over 30,000 crypto ATMs, ten times more than any other country. This widespread infrastructure is a clear sign of the growing mainstream acceptance of cryptocurrency in the nation.

The US has also seen a 220% rise in crypto usage since 2019, underscoring the growing role of digital assets in American finance. Despite Singapore and the UAE outperforming the US in terms of ownership rates and search activity, the country’s extensive ATM network remains a critical component of its crypto ecosystem.

Other Countries in the Top Rankings

Following the top three nations, Canada ranked fourth with a composite score of 64.7. The country saw the highest growth rate in adoption, with a 225% increase since 2019. Canada’s 10.1% crypto ownership rate and a network of 3,500 crypto ATMs indicate a strong but growing market for digital assets.

Turkey rounded out the top five with a score of 57.6. Nearly 20% of its population holds crypto, with monthly search activity also remaining robust. The country’s rising adoption, particularly in the face of inflation concerns, underscores its growing interest in cryptocurrency as a financial tool.

Other nations that made it into the top 10 include Germany, Switzerland, Australia, Argentina, and Indonesia. These countries are demonstrating increasing public interest in cryptocurrency, with rising adoption and improved infrastructure to support the digital asset economy.

Crypto’s Growing Role in Global Financial Systems

A spokesperson for ApeX Protocol emphasized that crypto is becoming a defining feature of how countries envision their financial futures. They noted that cryptocurrency is no longer just a speculative investment but a critical component of the financial system. As nations like Singapore and the UAE lead in adoption, it signals a broader trend where digital assets are integrated into the mainstream economy.

In a rapidly changing world, the study illustrates the shift towards digital finance and the role of cryptocurrency in redefining global financial systems. As adoption rates rise, countries are not only improving their crypto infrastructure but are also shaping the future of global economic interactions.

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