US Treasury Secretary Scott Bessent told APEC 2025 leaders in Gyeongju, South Korea that Singapore is leading the way in which in digital asset adoption and stablecoin regulation. According to the US Treasury Department, he said this in a gathering with Prime Minister Lawrence Wong. The discussion took place because the APEC economies give attention to global growth, energy security and technology.
Scott Bessent praises Singapore's adoption of digital assets at APEC 2025. Source: US Treasury
Bessent also said throughout the business leaders' informal dialogue that the U.S. “is seeing record levels of capital investment in advanced manufacturing and technology sectors” through collaboration with APEC members. This commentary placed digital assets, stablecoins and controlled cross-border finance on the identical economic agenda as trade and manufacturing.
The Treasury Department noted that Bessent traveled with U.S. President Donald Trump across Asia, previously stopping in Malaysia, Japan and South Korea. The trip showed that the US desires to remain lively in digital finance discussions within the Asia-Pacific region, where Singapore already has operating rules.
Digital asset adoption in Singapore exceeds size
Singapore has a population of 5.9 million, yet functions as a regional hub for digital assets, tokenized finance, and licensed crypto exchanges. A December 2024 report from ApeX Protocol said Singapore awarded twice as many cryptocurrency licenses in 2024 because it did in 2023. This shows that digital asset corporations are continuing to enter the market under the present regime.
In the identical ApeX Protocol report, Singapore was named a frontrunner in Web3 employment, registered crypto exchanges, and blockchain-related patent filings. This means the country is open not only to the custody or trading of digital assets, but additionally to on-chain business models and crypto-related mental property.
This is why Singapore is usually cited in APEC and G20 discussions as a working example of digital asset adoption that maintains stablecoin regulation. That was the background for Bessent's praise.
Stablecoin regulation stays key in Singapore
On May 30, the Monetary Authority of Singapore (MAS) issued a directive. It required crypto corporations serving users abroad to acquire a license in Singapore or leave the country. The move tied the introduction of digital assets to clear licensing rules. It also linked the sector to AML requirements and cross-border supervision.
In September 2025, a report from ApeX Protocol named Singapore essentially the most “crypto-obsessed” country. It is alleged that around 25% of individuals own digital assets. It also said that Singapore is leading in crypto-related searches. This level of retail usage helps the state regulate stablecoins, payment tokens and digital asset providers.
In October, Singapore hosted Token2049, certainly one of the biggest cryptocurrency and digital asset events. The event confirmed that the country continues to permit the sector to operate openly, while MAS keeps a licensing framework in place.
APEC 2025 Digital Assets Framework
Founded in 1989, APEC, consisting of 21 member countries, continues to strive for sustainable growth and economic cooperation within the Asia-Pacific region. However, the 2025 agenda included technology, energy security and digital finance, so stablecoin regulation and digital asset adoption were a part of the formal discussions.
When the US Treasury Department links record-breaking capital flows in technology sectors to APEC cooperation, it signals that regulated digital assets, stablecoins and licensed cross-border platforms should align with existing financial rules and never operate individually.
This comes at a time when global bodies, including the Basel Committee on Banking Supervision, are considering how banks should handle crypto asset exposure and stablecoins on account of the rise of regulated asset-backed tokens. Singapore’s model – license first, expand later – matches on this direction.
