Asia-Pacific reshapes the crypto world as Singapore claims top adoption rank

• Vietnam and Hong Kong enter the global top 10.
• Six Asia-Pacific markets appear in the top 20.
• Tokenisation rises 63% to more than 25.7 billion dollars.

Singapore’s rise to the top of global crypto adoption signals a broader shift in how digital assets are becoming embedded across the Asia-Pacific.

A new index published on Tuesday by Bybit and DL Research shows the region gaining influence as regulatory clarity, retail participation and new blockchain use cases reshape where innovation is happening.

The findings also reveal that real-world asset tokenisation, local stablecoins and crypto payrolls are now spreading through markets that have traditionally relied on conventional financial systems, placing Asia-Pacific at the centre of the industry’s next phase.

Regional leadership intensifies

The World Crypto Rankings assessed 79 countries using 28 metrics and 92 data points that examined regulation, institutional readiness and levels of user engagement.

Singapore secured the top position, overtaking the US, which has fallen in the latest edition.

Lithuania, Switzerland and the UAE completed the upper tier of the list, marking a shift from the Western-heavy rankings seen in earlier years.

Asia-Pacific delivered one of the strongest performances, with six of its markets ranked within the global top 20.

Vietnam reached ninth place, while Hong Kong secured tenth as its regulatory reset took effect.

Australia followed closely in eleventh, and the Philippines and South Korea came in seventeenth and twentieth, respectively.

The distribution indicates that adoption patterns are broadening as regional economies align regulation with user demand and market development.

New drivers behind adoption

The report outlines how each market is advancing for different reasons.

Singapore’s top ranking reflects a clear regulatory framework, a structured licensing regime and high levels of participation.

Vietnam stands out for a different type of growth. Nearly 20% of its population owns digital assets largely for remittances, savings and inflation protection.

The index shows that Vietnam ranks first globally for transactional use and for the adoption of decentralised physical infrastructure devices.

This suggests that the country’s progress is being powered from the ground up, with retail users driving the majority of activity.

Hong Kong’s tenth-place ranking reflects its attempt to rebuild confidence following regulatory changes and the introduction of a new licensing system. Its user penetration level places it eighth globally.

The report notes that the city is positioning itself as a blend of Western and Asian financial structures, with stablecoins and tokenisation acting as key catalysts for recovery.

Emerging trends gain global traction

Beyond rankings, the findings point to three trends shaping global behaviour.

Real-world asset tokenisation has expanded by 63% to more than 25.7 billion dollars since January.

This indicates rising interest in converting traditional assets into blockchain-based formats for trading and settlement.

Local currency-pegged stablecoins are also gaining ground. These tokens are emerging in markets that want to reduce reliance on the dollar while supporting domestic and cross-border transactions.

Their growth suggests increasing comfort with digital settlement mechanisms across both institutional and retail users.

This reflects a shift toward integrating digital assets into everyday financial activity rather than treating them solely as investment instruments.

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