Report: Here Are The Most “Crypto Obsessed” Countries

Singapore and UAE top ApeX Protocol’s crypto adoption report, with the US, Canada, and Turkey following closely behind.

Crypto adoption has grown across many countries. However, two nations now stand out. 

A new report from ApeX Protocol has ranked Singapore and the United Arab Emirates (UAE) as the world’s most crypto-focused countries. The findings show how both nations lead in ownership rates, adoption growth and public interest.

Singapore and UAE Dominate Crypto Adoption

Crypto adoption in Singapore has climbed lately. According to the report, 24.4% of the population owns digital assets, which is more than double the 11% recorded in 2021. 

Singapore also leads the world in online interest, with around 2,000 crypto-related searches per 100,000 people.

The UAE ranks second but holds the highest ownership rate globally, at 25.3% of its population. Adoption in the country has risen by a staggering 210% since 2019. 

In 2022, more than 34% of UAE residents reported holding crypto, which cemented its role as a hub for digital finance.

Both nations scored near the top in every metric tracked by ApeX, including ownership, growth, online search activity and infrastructure. 

US Leads in Crypto Infrastructure

The United States ranked third in the ApeX report with a composite score of 98.5. 

While it trails Singapore and the UAE in ownership rates, it dominates in infrastructure. The US hosts more than 30,000 crypto ATMs, which is ten times more than any other country.

Since 2019, crypto usage in the US has increased by 220%. This growth shows rising comfort with digital assets, which is driven by greater regulatory clarity and new products like spot Bitcoin ETFs.

The massive ATM network provides easy access to crypto for millions of people and helps bridge the gap between traditional finance and digital assets.

Other Notable Countries in the Top Rankings

Canada came fourth in the ApeX ranking, thanks to a 225% increase in adoption since 2019. About 10.1% of Canadians now own crypto, and the country supports over 3,500 crypto ATMs.

Turkey came fifth with a composite score of 57.6. Nearly 20% of the population holds digital assets, and monthly crypto search volumes continue to be high. Turkey’s strong interest has been partly driven by its need for alternative stores of value amid ongoing inflation.

Other countries making the top ten include Germany, Switzerland, Australia, Argentina and Indonesia. 

Crypto in National Financial Systems

A spokesperson for ApeX Protocol noted that cryptocurrency is becoming central to how nations think about their financial futures. 

Countries leading in adoption view crypto as more than a speculative trend. They see it as a tool for innovation.

The findings also indicate that countries with clear regulations and supportive infrastructure tend to see faster adoption. 

Singapore’s regulatory environment and the UAE’s crypto-friendly policies have encouraged individuals and businesses to engage more with digital assets.

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