Singapore has emerged as the global leader in blockchain technology, according to a recent study by ApeX Protocol, a multichain liquidity platform. The research ranked countries based on blockchain patents, industry-related jobs, and the number of crypto exchanges. Singapore achieved a remarkable composite score of 85.4, bolstered by its 1,600 blockchain patents, 2,433 industry jobs, and 81 crypto exchanges—a significant feat for a nation with under six million people.

Trailing closely behind is Hong Kong, with a composite score of 82.7. Its robust financial infrastructure has fostered a thriving blockchain ecosystem, making it a regional powerhouse. Estonia, a smaller yet significant player, ranked third with a score of 81.5. Despite its population of just 1.4 million, Estonia boasts 95 blockchain patents and 52 crypto exchanges.

Other notable countries in the blockchain race include Switzerland, the United States, Canada, Australia, South Korea, the United Kingdom, and the United Arab Emirates. Among them, the U.S. stands out for its sheer scale, leading in key metrics with 32,000 blockchain patents, over 17,000 jobs, and 166 crypto exchanges. However, the country’s progress has faced regulatory challenges, particularly under the controversial Operation Chokepoint 2.0.

A political shift could change the landscape. President-elect Donald Trump plans to transform the U.S. into a “blockchain capital of the world.” Key appointments, including pro-crypto Paul Atkins as SEC chair and David Sacks as “White House AI and crypto czar,” signal aggressive policy changes. Rep. French Hill has also vowed to prioritize a crypto market structure bill in Trump’s first 100 days in office.

As global leaders vie for blockchain dominance, the stage is set for intensified competition and innovation in this rapidly evolving sector.