From Bitcoin's early misconceptions to institutional adoption and rising investor trust, Lasanka Perera of Independent Reserve Singapore shares how Singapore is leading crypto into the mainstream and what it means for the future of digital finance.
Cryptocurrency has come a long way in the past decade. How has public perception of it changed over the years?
A decade ago, cryptocurrency was largely misunderstood and associated with fringe communities and speculative trading. Today, cryptocurrencies are becoming widely recognised by investors as legitimate assets, gradually shifting from speculative instruments to long-term investment options.
We’ve seen the narrative shift from “What is Bitcoin?” to “How do I invest in it?” Governments, institutional investors, and traditional banks are now engaging with digital assets, significantly increasing market credibility. The perception has evolved from scepticism to strategic curiosity and, in many cases, active participation and investment.
Bitcoin is often compared to gold. What does that mean, and why do some people see it as a safe investment?
We're in a digital age, and Bitcoin is 'digital gold'. Bitcoin is computationally scarce, but offers additional advantages like easier storage, 24/7 transferability, and accessibility. That's a massive advantage in today's global economy. We found that 1 in 5 respondents consider Bitcoin to be digital gold, and Bitcoin remains the most owned asset among new and seasoned investors, at 68%, according to our recent Independent Reserve Cryptocurrency Index (IRCI) 2025 survey which polled 1,500 everyday Singaporeans.
In times of economic uncertainty or inflation, Bitcoin offers an alternative hedge, particularly for those seeking diversification outside of traditional asset classes. Long-term investing requires a long-term view. Bitcoin can be volatile in the short term, but is systemically stable, with a monetary policy fixed in code and has been producing block after block for 15 years. Over the long term, Bitcoin has far outperformed traditional asset classes, despite its short-term volatility.
However, global macroeconomic factors, such as a hawkish Federal Reserve stance or global instability and conflict, do play crucial roles in the performance of digital assets such as Bitcoin.
Big financial companies like BlackRock and Fidelity are now offering Bitcoin ETFs. Why is this important, and how does it impact the future of crypto?
The first approval of Bitcoin ETFs back in January 2024 was a long-awaited move since the first mining of the Bitcoin genesis block some 16 years ago. This not only contributed to a more positive perception of Bitcoin, but also meant that institutional investors, previously hesitant due to regulatory uncertainties, now have a secure and regulated way to enter the cryptocurrency market.
The entry of institutions like BlackRock and Fidelity marks a major milestone in the legitimisation of crypto as an asset class. Bitcoin ETFs make it easier and safer for traditional investors to gain exposure without having to manage the complexities of direct ownership such as wallets or private keys. This simplifies access and brings credibility, which in turn attracts more capital and accelerates mainstream adoption.
Memecoins, like Dogecoin and Shiba Inu, have gained a lot of attention. Should people tread cautiously because it might seem like a trend or do they have real value?
Memecoins often gain popularity through viral momentum rather than utility. According to our IRCI 2025 survey, there is healthy awareness of memecoins today. Dogecoin enjoys the highest awareness at 41%, followed by Shiba Inu at 23%, and almost a third of millennials between 25-44 years of age own memecoins (29%).
While some investors have made significant gains, memecoins are highly speculative and volatile. Investors should clearly differentiate speculative tokens, like memecoins, from blockchain projects that demonstrate genuine innovation and practical applications. People should always do their research and approach such assets with caution – and only invest what they can afford to lose.
Singapore has positioned itself as a key player in the crypto world. What makes it a good place for crypto businesses and investors?
Singapore stands out because of its clear regulatory framework, supportive ecosystem, and forward-thinking regulators. The Monetary Authority of Singapore (MAS) has taken a balanced approach – encouraging innovation while enforcing strong compliance and risk management standards. This clarity has made Singapore a hub for credible, regulated players who are building the future of finance.
Beyond regulation, Singapore offers a deep pool of institutional capital, robust infrastructure, and access to a tech-savvy, globally connected talent base. Its position as a gateway to Asia also makes it a strategic launchpad for firms looking to scale across the region.
The government’s commitment to fintech, digital assets, and Web3, including ongoing policy dialogue and pilot programmes like MAS’ Project Guardian, signals that Singapore isn’t just reacting to trends, but actively shaping the future of digital finance.
(Related: Rethinking Investments - Second Chance at Greatness)
Big financial companies like BlackRock and Fidelity are now offering Bitcoin ETFs. Why is this important, and how does it impact the future of crypto?
The first approval of Bitcoin ETFs back in January 2024 was a long-awaited move since the first mining of the Bitcoin genesis block some 16 years ago. This not only contributed to a more positive perception of Bitcoin, but also meant that institutional investors, previously hesitant due to regulatory uncertainties, now have a secure and regulated way to enter the cryptocurrency market.
The entry of institutions like BlackRock and Fidelity marks a major milestone in the legitimisation of crypto as an asset class. Bitcoin ETFs make it easier and safer for traditional investors to gain exposure without having to manage the complexities of direct ownership such as wallets or private keys. This simplifies access and brings credibility, which in turn attracts more capital and accelerates mainstream adoption.
Memecoins, like Dogecoin and Shiba Inu, have gained a lot of attention. Should people tread cautiously because it might seem like a trend or do they have real value?
Memecoins often gain popularity through viral momentum rather than utility. According to our IRCI 2025 survey, there is healthy awareness of memecoins today. Dogecoin enjoys the highest awareness at 41%, followed by Shiba Inu at 23%, and almost a third of millennials between 25-44 years of age own memecoins (29%).
While some investors have made significant gains, memecoins are highly speculative and volatile. Investors should clearly differentiate speculative tokens, like memecoins, from blockchain projects that demonstrate genuine innovation and practical applications. People should always do their research and approach such assets with caution – and only invest what they can afford to lose.
Singapore has positioned itself as a key player in the crypto world. What makes it a good place for crypto businesses and investors?
Singapore stands out because of its clear regulatory framework, supportive ecosystem, and forward-thinking regulators. The Monetary Authority of Singapore (MAS) has taken a balanced approach – encouraging innovation while enforcing strong compliance and risk management standards. This clarity has made Singapore a hub for credible, regulated players who are building the future of finance.
Beyond regulation, Singapore offers a deep pool of institutional capital, robust infrastructure, and access to a tech-savvy, globally connected talent base. Its position as a gateway to Asia also makes it a strategic launchpad for firms looking to scale across the region.
The government’s commitment to fintech, digital assets, and Web3, including ongoing policy dialogue and pilot programmes like MAS’ Project Guardian, signals that Singapore isn’t just reacting to trends, but actively shaping the future of digital finance.
How does Independent Reserve Singapore help people and businesses navigate the world of cryptocurrency?
At Independent Reserve Singapore, we’re proud to be the first crypto exchange in Singapore to be licensed by MAS out of 170 players. We were also one of the first crypto companies to receive a banking account from DBS, paving the way for other crypto players looking to do business in Singapore. As such, we pride ourselves as industry first-movers and stewards in doing things the right way.
We operate under a regulated framework with a strong focus on security, transparency, and compliance, and as a trusted partner to our customers in Singapore. Our platform combines user- friendly tools with robust customer support, catering seamless, turnkey solutions to both individuals and institutions, helping them buy, sell, and store digital assets safely.
As one of the oldest exchanges with more than a decade in the business, we intend to keep working closely with the regulators in Singapore to ensure consumers’ safety through education and a robust set of rules.
Where do you see cryptocurrency in the next few years, and how might it impact everyday life?
Over the next few years, crypto will become increasingly embedded in our financial systems – not just as an investment vehicle, but as a tool for payments, cross-border remittances, and decentralised finance (DeFi). We’ll likely see more integration with traditional financial services, greater adoption of stablecoins, and possibly central bank digital currencies (CBDCs). For everyday users, crypto will become less about speculation and more about utility and access.
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