Singapore residents have more awareness of cryptocurrencies than Australians do, according to the first survey conducted in the city-state for cryptocurrency exchange Independent Reserve.

Singapore received an Independent Reserve Cryptocurrency Index (IRCI) score of 63 out of 100 for crypto awareness, a survey conducted by Toluna found. This is the first time the survey has been carried out for Singapore.The figure compares with a 2020 reading of 47 for Australia.Independent Reserve attributes the higher reading to the country's stable regulatory environment for crypto and the strength of its crypto industry.More than 90% of Singaporeans know of at least one cryptocurrency, with bitcoin having the most recognition, the survey found.More than 40% own some crypto, though 7% of respondents say it's a scam.The survey polled more than 1,000 people.