Trump's presidential election victory seems to have boldened rich Asian investors to invest more of their money into digital assets.

In a recent interview with Nikkei, Gerald Goh, the CEO of Sygnum-a Singapore-based virtual asset banking group-revealed that his firm's new client onboarding rate nearly tripled in the weeks following Trump's win.

Goh noted that investors are generally more open to incorporating crypto investments as part of their investment portfolio.

“We’ve already seen in 2024 an improvment in mood, let's say, in the sentiment, on the crypto side.”

Singapore: A Magnet for Crypto Wealth

In a January report, Singaporean financial regulators revealed that the number of family offices (private wealth management firms that cater to high-net-worth individuals and families) in Singapore spiked to over 2,000 compared to 1,400 the year before.

Singapore's political stability has long attracted investors from Malaysia, Thailand, China and Bangladesh seeking to safeguard their wealth. The victory of President Trump has further elevated investors' interest in crypto, resulting in an influx of investors flocking to Singapore.

Independent Reserve, a crypto exchange based in Singapore revealed that the number of family offices in its client base grew 20% in 2024 compared to 2023. During his interview with Nikkei, Ceo Lasanka Perera said

"We've seen more interest and inquiries from private bankers and family offices. The postelection rally and a crypto friendly administration has raised expectations for constructive U.S regulations, which could reduce risks and encourage greater participation from wealthy investors."

Despite growing enthusiasm, challenges persist. The Monetary Authority of Singapore-a government agency which regulates crypto and other financial markets-infamously holds a very strict stance when it comes to the direct marketing of crypto to retail investors, and exchange platforms often have to walk a fine line to avoid regulatory sanctions.