Singapore has emerged as the third largest initial coin offer (ICO) market globally after the US and Switzerland and the leading hub for ICO activity in Asia, as part of a larger disruption to the venture capital sector. The only other Asian markets that saw significant ICO activity are Russia and Hong Kong.
According to information compiled by CB Insights, Funderbeam and Crunchbase, ICOs in the US account for 57 per cent of funding raised across five countries: Switzerland, Singapore, Canada and the UK. Meanwhile, data provider Coinschedule indicates that from November 2016 to November 2017, ICOs have seen more than $3.3 billion raised across more than 200 ICOs, compared to about $70 million from November 2015 to November 2016.
