Singapore Tops 2025 Global Crypto Rankings as RWA Tokenization Jumps 63%: Report
Singapore has taken the highest place in Bybit’s World Crypto Rankings 2025, strengthening its standing as probably the most lively and structured digital-asset markets.
The new index, produced along side DL Research, evaluates international locations throughout consumer exercise, institutional readiness, and cultural engagement.
It positions Singapore forward of the United States and Lithuania, two international locations that proceed to form the route of worldwide crypto markets in distinct methods.
Report Reveals Two Distinct Global Crypto Adoption Models
The report exhibits how Singapore reached a rating of seven.5 out of 10, pushed by high consumer penetration and powerful cultural engagement round digital property.
Its licensing regime, high digital literacy, and lively institutional sector have helped create one of many strongest pipelines between retail customers and controlled monetary entities.
The United States follows carefully with a rating of seven.3. Its rating is supported by buying and selling volumes, custody exercise, and a rising base of tokenization initiatives involving main banks and asset managers.
Lithuania, which secured third place with a rating of 6.3, continues to be a most popular regulatory base for fintech and alternate corporations.
The high ten additionally contains Switzerland, the United Arab Emirates, Ireland, Canada, the Netherlands, Vietnam, and Hong Kong.
The knowledge exhibits two clear adoption fashions. Countries such as Singapore, the U.S., Switzerland, Lithuania, and the UAE replicate an institution-driven sample formed by regulation and monetary infrastructure.
In distinction, Vietnam, Nigeria, Ukraine, and the Philippines depend on crypto for on a regular basis features such as remittances, funds, and financial savings throughout foreign money strain or banking restrictions.
This sample is per earlier studies from Chainalysis and TRM Labs, which additionally discovered high adoption in markets dealing with financial constraints.
Ukraine, Moldova, and Georgia proceed to guide when measured in opposition to inhabitants measurement.
Global RWA Market Climbs 63% as Institutions Accelerate Adoption
The report additionally highlights how shortly real-world asset tokenization has expanded. The marketplace for tokenized RWAs, excluding stablecoins, has risen greater than 63% since January 2024, reaching $25.7 billion in early 2025.
Notably, personal credit score and U.S. Treasuries dominate the sector, holding 15.6 billion and 6.7 billion {dollars}, respectively.
The United States maintains the strongest institutional readiness with an ideal rating, supported by regulatory readability and deep Wall Street engagement.
BlackRock’s BUIDL fund remains one of many fastest-expanding tokenized portfolios, reaching between 1.8 billion and a pair of.28 billion {dollars} throughout a number of blockchains.
Major banks like JPMorgan, Citi, and Goldman Sachs have expanded tokenized settlement and inner buying and selling packages.
Canada now ranks second in institutional readiness with a rating of 0.93, supported by new guidelines for banks and insurers that can take impact in 2026.
The Philippines can also be gaining momentum, changing into a regional instance for Southeast Asia as it units tips designed for remittance-heavy markets.
Global Data Shows Surging Stablecoin Use as Singapore Leads Tokenization Push
Singapore’s broader function in tokenized finance has grown as nicely. In November, the Monetary Authority of Singapore confirmed plans to pilot tokenized MAS payments settled utilizing a central financial institution digital foreign money.
Local banks have already examined interbank lending utilizing a wholesale CBDC, reinforcing the shift from experimentation to actual operational use.
MAS officers say asset-backed tokens have clearly moved past the laboratory stage.
The report additionally identified that stablecoins stay essentially the most constant asset kind throughout all earnings teams.
Ukraine information the best stablecoin circulate relative to GDP at 3.6%, adopted by Nigeria, Georgia, Vietnam, and Armenia.
These flows underline how digital {dollars} have turn into a monetary device in each developed and rising areas.
Separate analysis in March confirmed robust momentum within the Gulf area. The UAE recorded a 210% surge in adoption, the best of any nation in 2025, supported by high possession ranges and powerful search exercise.
Singapore and the United States adopted, with adoption development of 150% and 220%, respectively.
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