Singapore Takes the Crypto Crown, UAE Second – Study

Singapore and the United Arab Emirates (UAE) have emerged as the world’s most crypto-obsessed countries, according to a new comparative study compiled by ApeX Protocol. The analysis places Singapore first overall, with the UAE in second, based on a composite of ownership, adoption growth, search activity, and the availability of crypto ATMs.

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Key Takeaways

Singapore ranks #1 and the UAE #2, driven by high ownership (24.4% and 25.3%) plus strong growth and search interest.
The index uses four inputs: crypto ownership, multi-year adoption growth, search activity, and crypto ATM availability.
Rounding out the top five: the U.S. is #3 (30,000+ ATMs), Canada #4 (225% growth since 2019), and Turkey #5 (~20% ownership).

ApeX Protocol’s framework blends four signals of real-world engagement: how many people hold crypto, how quickly adoption is growing, how often residents search for crypto terms, and what infrastructure exists on the ground.

By those measures, Singapore leads with an estimated 24.4% of its population owning digital assets — more than double its 2021 level — and notably strong search interest (about 2,000 crypto queries per 100,000 people). The UAE follows closely, with ownership around 25.3% and rapid multi-year growth that has reinforced its reputation as a regional hub for digital assets.

The United States ranks third overall with a score of 98.5, buoyed less by ownership rates and more by infrastructure: the U.S. has more than 30,000 crypto ATMs, roughly ten times the count of the next country. The report also notes U.S. crypto usage has climbed substantially since 2019, reflecting broadening mainstream familiarity even amid regulatory debates.

Rounding out the top five are Canada and Turkey. Canada ranks fourth on the back of the study’s strongest multi-year adoption growth — up 225% since 2019 — plus a nationwide network of roughly 3,500 crypto ATMs. Turkey lands fifth, with nearly one-fifth of the population holding crypto and robust monthly search interest, a pattern often linked to its inflation pressures and growing appetite for alternative assets.

The picture that emerges is of two distinct leadership styles. Singapore’s emphasis on clear rules and high digital literacy appears to be translating into sustained retail participation and on-chain curiosity.

That regulatory backbone was on display this summer when the Monetary Authority of Singapore fined nine financial institutions a combined $21.55 million for AML/CFT compliance failures connected to a major money-laundering case.

In the UAE, policy experimentation and everyday utility continue to accelerate. Abu Dhabi recently became the first city to let taxi riders pay fares with a national, dirham-pegged stablecoin (AE Coin) via the AEC Wallet app and in-car QR codes .

Taken together, ApeX Protocol’s leaderboard and these on-the-ground developments show why Singapore and the UAE are setting the pace for crypto adoption — through a mix of policy clarity, consumer readiness, and real-world use cases.