Rich Asian investors drive fresh Trump-fuelled crypto boom in Singapore

After the election of Donald Trump, Singapore wealth managers began to allocate large amounts of capital to cryptographic investment.

According to Gerald Goh, CEO of Sygnum, a group of virtual asset banking based in Singapore, the return of Trump had an electrifying effect on cryptocurrencies and companies linked to the crypto, leading to a crazy race for the rich Asian investors who are now attacking larger portions of their portfolios with digital assets. In an interview Thing nikkeiGoh revealed that his business integration rate for new customers “has probably doubled or tripled” in the week that followed Trump’s victory. Giving a wider overview of the feeling of the market in force in Singapore, he said:

More specifically, in Singapore, investors are generally more positive in the incorporation of cryptography investments within the framework of their investment portfolios. We have already seen in 2024 an improvement in mood, say, in feeling, on the cryptographic side.

In a January report, Singaporean financial regulators revealed that the number of unifamilial offices domiciled on the island rose to more than 2,000, against 1,400 the previous year. The relative political stability of Singapore has long made a magnet for investors of Malaysia, Bangladesh, Thailand and China who seek to protect their wealth. Given these circumstances, said Goh, the emergence of Trump had the effect Fuel on an enlightened match in the crypto portfolio.

Independent reserve, an exchange of crypto based in Singapore revealed that the number of family offices in its customers increased by 20% in 2024 compared to 2023. Addressing Nikkei Asia, CEO Lasanka Perera said:

We have seen more interest and requests from private bankers and family offices. The post-electoral rally and a friendly crypto administration have raised expectations in the field of American constructive regulations, which could reduce risks and encourage greater participation in rich investors.

Despite this feeling on the market, the transition to cryptographic investment is not without challenges. The monetary authority of Singapore, which regulates the crypto and other financial markets, holds a famous negative point of view From direct marketing of digital assets to retail investors, and exchange platforms often have to travel a fine line to avoid regulatory sanctions.