ChainCatcher news, according to Cointelegraph, Singapore is rapidly becoming a crypto hub in Asia with a "risk-adjusted" regulatory approach and a doubling of the number of crypto licenses issued in 2024.

According to a report by ApeX Protocol, Singapore currently has 1,600 blockchain patents, 2,433 related jobs, and 81 crypto exchanges. The Monetary Authority of Singapore (MAS) issued a total of 13 Major Payment Institution (MPI) licenses in 2024, more than double that of 2023.

In contrast, Hong Kong has only 7 licensed crypto exchanges, 890 blockchain patents, and 1,163 related jobs.