US Treasury Secretary praises Singapore’s digital asset adoption at APEC

https://img-cdn.gateio.im/webp-social/pixel?postId=227041®ionId=1.webp

US Treasury Secretary Scott Bessent praised Singapore’s leadership in stablecoin and digital asset adoption during a meeting with Prime Minister Lawrence Wong on Friday, according to an official readout from the US Department of the Treasury

The discussion was held at the Asia-Pacific Economic Cooperation (APEC) 2025 summit in Gyeongju, South Korea, where world leaders are meeting to discuss global growth, energy security and technology.

Bessent also told APEC leaders during the Economic Leaders’ Informal Dialogue that through their work with APEC economies, the US is “seeing record levels of capital being invested into advanced manufacturing and technology sectors.”

APEC is an annual forum founded in 1989 that brings together 21 member economies to promote sustainable growth and economic cooperation across the Asia-Pacific region.

Bessent’s remarks come as he has been traveling across Asia alongside US President Donald Trump, making stops in Malaysia, Japan and South Korea.

Related: Basel Committee reviews bank crypto-asset rules amid stablecoin surge: Report

Singapore leads in crypto adoption

With a population of just 5.9 million, Singapore has evolved into one of the world’s most influential hubs for digital asset adoption and innovation.

A December 2024 report by ApeX Protocol found that Singapore granted twice as many cryptocurrency licenses in 2024 as it did the previous year. The study also identified the city-state as a global leader in Web3 employment, the number of registered crypto exchanges and blockchain-related patent filings.

While taking an innovative stance on crypto, the country has also been enforcing regulations. A directive from the Monetary Authority of Singapore (MAS) on May 30 told crypto companies offering services abroad to get licensed or leave the country.

In September, another report by ApeX Protocol found that Singapore takes top spot in the world as the most “crypto-obsessed” nation, with nearly a quarter of its population holding digital assets and topping global rankings for crypto-related searches.

In October, Singapore hosted Token2049, one of the world’s most influential crypto conferences.

Magazine: China officially hates stablecoins, DBS trades Bitcoin options: Asia Express

  • #Singapore
  • #Adoption
  • #United States
  • #Stablecoin Add reaction
BTC0.54%
此頁面可能包含第三方內容,僅供參考(非陳述或保證),不應被視為 Gate 認可其觀點表述,也不得被視為財務或專業建議。詳見聲明
  • 讚賞
  • 留言
  • 轉發
  • 分享
留言
0/400
暫無留言
交易,隨時隨地
qrCode
掃碼下載 Gate App
社群列表
繁體中文
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)