Globally crypto hub witnesses 13x jump in crypto investments

Crypto market has attracted several investors and traders with its tremendous potential and notable price surges. Following the potential of cryptocurrencies and decentralized finance, Singapore seeks to become the world’s crypto hub. REcently, KPMG has shared its Pulse of Fintech report. As per the report, the country has witnessed a tenfold increment in cryptocurrency investment last year of $1.48. Notably, the figure is up by more than $110 million in 2020 as per data from KPMG.

Singapore – The center of cryptocurrency

According to several experts in the cryptocurrency ecosystem, Singapore has long been recognized as a center of crypto assets activity. Over the past year, the state has achieved more than $1.48 billion worth investments in cryptos.

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Following the scenario, KPMG suggests that the increments in investments is due in part to government efforts. Government should take measures to stimulate the capital market like establishing a special-purpose acquisitions company, listing frameworks to position the nation as a choice location where fast-growing firms and unicorns can go public.

It is noteworthy that this year financial authorities in Singapore are ramping up their efforts to regulate the speculative market. Although authorities are imposing even regulation, it is forecasted that the region’s crypto investment will remain strong.