This unprecedented surge has led family offices and private investors to allocate larger portions of their portfolios to digital assets.
In an interview with Nikkei Asia, Gerald Goh, CEO of Sygnum, a virtual asset banking group in Singapore, stated that Trump’s election victory has accelerated crypto adoption among wealthy Asian investors. He reported a significant increase in new client onboarding at his firm, rising “two to three times” in the week following the election. This was attributed to a growing acceptance of crypto in Singapore’s investment strategies.
“Specifically, in Singapore, investors generally are more positive about incorporating crypto investments as part of their investment portfolios. We’ve already seen in 2024 an improvement in the mood, let’s say, in the sentiment, on the crypto side.”
Goh noted.
Trump’s re-election is an early catalyst
Singapore’s reputation as a stable financial hub drives a significant increase in single-family offices, which climbed from 1,400 in 2023 to over 2,000 in early 2024. Wealthy investors from Malaysia, Bangladesh, Thailand, and China flock to the island to protect their assets. The renewed political activity from Trump has intensified this interest, with Goh comparing it to “throwing petrol on a lit match.”
Independent Reserve, a cryptocurrency exchange based in Singapore, reported a 20% increase in family office clients in 2024 compared to 2023. CEO Lasanka Perera observed a rise in inquiries from private bankers and family offices, driven by expectations of favourable U.S. cryptocurrency regulations under a potentially crypto-friendly administration.
This development occurred alongside Singapore’s rising status as Asia’s premier crypto hub, surpassing Hong Kong in the competition for dominance. Both cities have fiercely rivalled, implementing specialized regulatory frameworks and innovation-driven sandboxes. However, Singapore’s proactive licensing strategy and strong fintech initiatives gave it a significant advantage.
Also Read: Coinbase CEO Calls for Changes to Accredited Investor Rules in the US
Regulation is becoming a bigger driver than politics
Singapore has also continued developing its own regulatory framework rather than simply following U.S. policy. The Monetary Authority of Singapore has maintained a cautious approach to crypto while creating clearer rules for digital-token service providers. That balance has helped Singapore position itself as a base for companies targeting institutional and cross-border digital-asset activity.
Investors increasingly distinguish between speculative crypto exposure and regulated financial infrastructure. For instance, KPMG found that Singapore’s larger fintech deals increasingly involved companies with established regulatory and institutional business models rather than purely speculative crypto projects.
Tokenization is becoming part of the investment story
The Singapore market is also benefiting from the institutional push into tokenized finance. Banks, asset managers and fintech companies are exploring blockchain-based versions of traditional financial assets, including funds, bonds and other securities.
This gives Singapore’s digital-asset sector another growth path beyond cryptocurrency trading. The global financial industry is increasingly treating blockchain as financial-market infrastructure, particularly for settlement and tokenization.
The opportunity is no longer simply to attract crypto exchanges and trading platforms, but to attract companies building the infrastructure that could connect traditional finance with blockchain networks.
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