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- XRP adoption in Singapore jumps, signaling a shift towards greater diversification in crypto portfolios.
- Ethereum and XRP see significant growth, while stablecoins like RLUSD continue to gain popularity in APAC.
- Crypto awareness reaches record highs in Singapore as XRP and stablecoins become investor favorites.
Independent Reserve’s latest analysis shows that XRP is being widely adopted in Singapore, reflecting the broader crypto growth in Asia-Pacific (APAC) nations. Based on the Independent Reserve Crypto Index Singapore Report, residents of Singapore are including XRP as a major member of their expanding cryptocurrency portfolio, alongside Ethereum and others.
XRP and Ethereum Take the Lead in Investment Portfolios
The report highlights that XRP adoption is increasing, with investors including it in 17% of their portfolios, making it the second fastest-growing altcoin. Ethereum achieved the most significant increase, from 41% to 48%. A 1% growth in popularity was also seen for Solana (SOL) and Dogecoin (DOGE). Digital asset diversification is rising, and XRP is now part of many Singaporean portfolios.
Crypto Awareness Hits Record Levels
The report found that awareness of cryptocurrency in Singapore is now at its highest level, with 94% of people knowing about at least one type. Most people (91 percent) who took the survey recognized Bitcoin as the leading cryptocurrency. Although many people use Bitcoin, it remains the most significant crypto, representing 68% of the market. Although other digital currencies, such as XRP, are thriving, Bitcoin is still the top player.
RLUSD and Stablecoins Are Becoming More Popular
The report also noted that stablecoins are growing in importance. Just under half of Singaporean investors have either owned or still own stablecoins. Ripple’s RLUSD has especially progressed, now valued at more than $310 million. A majority of people, or 83%, prefer USD-pegged stablecoins over all the other types. More interest in stablecoins proves their rising influence in the crypto world, while RLUSD emerges as a top competitor in Asia Pacific.
Slow Steps Toward Investment
Although there is more excitement, many Singaporean investors still remain cautious about their investments. Fewer than 1 in 10 participants put more than $1,000 per month into crypto, and over half put less than $500. Approximately an additional 29% invest between $500 and $1,000, which indicates that crypto adoption is steadily growing.
Since XRP and stablecoins like RLUSD are growing faster, Singapore is becoming a crucial part of the APAC crypto world. As laws become clearer and more people use cryptocurrencies, Asia may soon see a significant step in mainstream adoption.
Also Read: SEC to Let Firms Trade Crypto and Stocks Together Under One Rulebook
