US Treasury Secretary Scott Bessent told APEC 2025 leaders in Gyeongju, South Korea that Singapore is ahead in digital asset adoption and stablecoin regulation. He said this during a meeting with Prime Minister Lawrence Wong, according to the US Department of the Treasury readout. The discussion took place as APEC economies focused on global growth, energy security and technology.
Bessent also said during the Economic Leaders’ Informal Dialogue that, through work with APEC members, the US is “seeing record levels of capital being invested into advanced manufacturing and technology sectors.” That comment placed digital assets, stablecoins and regulated cross-border finance inside the same economic agenda as trade and manufacturing.
The Treasury noted that Bessent was traveling across Asia with US President Donald Trump, with earlier stops in Malaysia, Japan and South Korea. The trip showed that the US wants to stay active in Asia-Pacific digital finance talks where Singapore already has working rules.
Singapore Digital Asset Adoption Outpaces Size
Singapore has 5.9 million people yet it operates as a regional hub for digital assets, tokenized finance and licensed crypto exchanges. A December 2024 ApeX Protocol report said Singapore granted twice as many cryptocurrency licenses in 2024 as in 2023. That shows digital asset firms continue to enter the market under the current regime.
The same ApeX Protocol report called Singapore a leader in Web3 employment, registered crypto exchanges and blockchain-related patent filings. That means the country is not only open to digital asset custody or trading but also to on-chain business models and crypto-related IP.
Because of this, Singapore is often cited in APEC and G20 talks as a working example of digital asset adoption that keeps stablecoin regulation in place. That was the backdrop for Bessent’s praise.
Stablecoin Regulation Remains Central in Singapore
On May 30, the Monetary Authority of Singapore (MAS) issued a directive. It told crypto companies serving overseas users to get licensed in Singapore or leave. The move tied digital asset adoption to clear licensing rules. It also linked the sector to AML requirements and cross-border supervision.
In September 2025, an ApeX Protocol report called Singapore the most “crypto-obsessed” nation. It said about 25% of people hold digital assets. It also said Singapore leads in crypto-related searches. This level of retail use helps the state regulate stablecoins, payment tokens and digital asset service providers.
In October, Singapore hosted Token2049, one of the largest crypto and digital asset events. The event confirmed that the country still allows the sector to operate openly, while MAS keeps a licensing framework in force.
APEC 2025 Framework for Digital Assets
APEC, created in 1989 and consisting of 21 member economies, still aims at sustainable growth and economic cooperation in the Asia-Pacific. However, the 2025 agenda included technology, energy security and digital finance, which made stablecoin regulation and digital asset adoption part of the formal talks.
When the US Treasury links record capital flows into technology sectors with APEC cooperation, it signals that regulated digital assets, stablecoins and licensed cross-border platforms should align with existing financial rules, not operate separately.
This comes as global bodies, including the Basel Committee on Banking Supervision, review how banks should treat crypto-asset exposure and stablecoins because of the growth in regulated, asset-backed tokens. Singapore’s model — license first, expand later — fits that direction.