More people in Singapore own cryptocurrencies, and younger users are leading the way in using the asset for daily financial needs, such as online shopping and bill payments, a new study shows.

The number of Singapore residents who own cryptocurrencies is on the rise, with 26 per cent owning digital assets in 2024, up from 24.4 per cent in 2023.

A majority of them, or 52 per cent, have paid for goods and services with it, and 67 per cent plan to increase their usage of crypto for payments in future.