Last month, our team showed off a shiny new stablecoin dashboard at the Monetary Authority of Singapore's pavillion at Singapore FinTech Festival 🇸🇬
(It actually shines...check the photo if you don't believe me.)
3 quick insights from the data:
1. Singaporean stablecoin flows are institution-dominated, even more than global. Institutions account for ~15% of transactions (90k out of 573k in the last 6 months)—but 99.5% of total volume ($73.1B out of $73.5B). Globally, institutions drive 95% of volume.
2. In Singapore, merchants move 2.5x more volume than individuals - $279M vs $56M.
3. USDC dominates transfers, but we're also tracking XSGD—Singapore's first SGD-denominated stablecoin. It recently hit over $200M in monthly transfer volume. (excited to see this number tick up!)
🔗 Full writeup on what we built and how:
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