Singapore tops Southeast Asia in digital wealth adoption
Monthly use of leading platforms reaches 9% of internet users, while Singapore’s digital loan book is forecast to reach US$39 billion in 2026.
Singapore has Southeast Asia’s highest adoption of digital wealth services, with 9% of internet users accessing leading platforms monthly, according to the e-Conomy SEA 2026 report from Google, Temasek and Bain & Company. That share is nearly three times Malaysia’s, the second-ranked market.
The report links Singapore’s position to affluent, financially literate consumers, deep capital markets and a mature ecosystem for digital finance. It suggests declines in Vietnam and the Philippines could reflect temporary changes in engagement rather than a lasting move away from digital investing.
Digital lending is forecast to expand faster in Singapore in 2026 than payments or insurance. The report projects a loan book of US$39 billion, an 18% increase from US$33 billion in 2025. Payment gross transaction value is expected to rise 7% to US$166 billion, while insurance premiums are forecast to increase 12% to US$0.60 billion.
By 2035, the report forecasts Singapore’s digital lending book at US$92 billion, with a compound annual growth rate of 10%. Insurance is projected to grow fastest over that period, at 14% annually to US$1.91 billion, while payments are expected to reach US$242 billion at a 4% annual growth rate.
Singapore also ranks first in AI adoption, according to the report, which identifies 70% of its working population, or 3.2 million people, as generative AI users.
