After the election of Donald Trump, Singapore’s money managers have begun to allocate large amounts of capital for crypto investment.
According to Gerald Goh, CEO of Singapore-based Virtual Asset Banking Group, Sagamam, Trump’s re-entry has had an electrification effect on Cryptocurrency and Crypto-related companies, causing a crazy scramble for rich Asian investors who have now become a crazy scramble. Are allocated. Their portfolio for digital assets. In an interview with Nikkei AsiaGoh revealed that his firm’s onboarding rate for new customers in the week after Trump’s victory was “possibly double or tripled”. Giving extensive observation on the market spirit prevalent in Singapore, he said:
In particular, in Singapore, investors are generally more positive about incorporating crypto investment as part of their investment portfolio. We have already seen an improvement in mood in 2024, let’s say, in emotion, towards Crypto.
In a January report, the financial regulators of Singapore revealed that the number of single-family offices with advocates on the island had exceeded 2,000 compared to 1,400. Singapore’s relative political stability has long been watching it to protect their funds for investors from Malaysia, Bangladesh, Thailand and China. Given these circumstances, Goh said, Trump’s emergence has affected petrol on a litto match for Crypto portfolio investment.
A Crypto Exchange Independent Reserve located in Singapore revealed that the number of family offices at its client base increased in 2024 in 2024 compared to 2023. Talking to Nikkei Asia, CEO Lasanka Perera said:
We have seen more interest and inquiries from private bankers and family offices. The postulations rally and a crypto-friendly administration have raised expectations for creative US rules, which can reduce the risk and encourage more participation from rich investors.
However, despite the spirit of this market, the change towards crypto investment is not without its challenges. Singapore’s monetary authority, which controls crypto and other financial markets, holds a famous negative attitude of direct marketing of digital assets for retail investors, and exchange platforms often have to walk on a good line to avoid regulatory restrictions Is.
