The Monetary Authority of Singapore has issued digital token service licenses to about 30 payment companies

There are currently about 30 payment companies that have obtained digital token service licenses issued by the Monetary Authority of Singapore, including Coinbase and Ripple in the United States, and Futu, headquartered in Hong Kong. In addition, the central bank of Singapore is also experimenting with digital Singapore dollars. With the approval of Bitcoin and Ethereum spot ETFs in the United States, Generation Z and even baby boomers are increasingly accepting that cryptocurrency trading can become mainstream. According to a survey conducted by the exchange Independent Reserve earlier this year, about 40% of Singaporean investors own cryptocurrencies. Analysis points out that with Trump returning to the White House and promising to usher in a new era of support for the crypto industry, this may bring rewards to Singapore in 2025. (Bloomberg)