According to The Straits Times, more than half of cryptocurrency holders in Singapore have used digital assets for daily transactions. The latest research shows that 52% of cryptocurrency holders have started using cryptocurrency for payments, and 67% plan to use it in the future. The study found that Gen Z and millennials hold 40% of the country's cryptocurrency, mainly for online shopping, bill payment, and in-store consumption. According to blockchain analytics firm Chainalysis, crypto transactions in Singapore approached $1 billion in the second quarter of 2024. However, 60% of users are still concerned about the complexity and security of digital assets, while 54% of holders are troubled by limited merchant acceptance.