Here is the rephrased title: Singapore Web3 Grows Despite Government Disinterest

The Rise of Web3 in Singapore

Singapore has emerged as a hub for Web3 companies, with the city-state hosting over 300 Web3 firms as of 2025. This growth is driven by the country’s favorable business environment, skilled workforce, and government support for the sector.

Favorable Business Environment

Singapore’s business-friendly environment is a major draw for Web3 companies. The country has a low corporate tax rate of 8.5%, making it an attractive location for businesses looking to minimize costs. Additionally, Singapore’s government has implemented a range of initiatives to support entrepreneurship and innovation, including the Singapore FinTech Festival and the Global Innovation Index.

Skilled Workforce

Singapore is home to a highly skilled and educated workforce, with a strong presence of universities and research institutions. The country has a large pool of talent in areas such as blockchain, artificial intelligence, and cybersecurity, making it an ideal location for Web3 companies to set up operations.

Government Support

The Singapore government has been actively promoting the growth of the Web3 sector through a range of initiatives. The country has established the National Blockchain Strategy, which aims to position Singapore as a global leader in blockchain technology. The government has also set up the Singapore Blockchain Innovation Programme, which provides funding and support for blockchain-related projects.

VC Firms Focusing on Web3

In addition to the numerous Web3 firms, Singapore is also home to over 30 active venture capital firms that focus on the sector. These firms provide funding and support to early-stage Web3 companies, helping them to scale and grow.

Conclusion

Singapore’s emergence as a hub for Web3 companies is a testament to the country’s favorable business environment, skilled workforce, and government support. With over 300 Web3 firms and 30 active VC firms focusing on the sector, Singapore is well-positioned to play a leading role in the global Web3 ecosystem.

FAQs

Q: What is the number of Web3 firms in Singapore?
A: As of 2025, there are over 300 Web3 firms in Singapore.

Q: What is the corporate tax rate in Singapore?
A: The corporate tax rate in Singapore is 8.5%.

Q: What initiatives has the Singapore government taken to support the Web3 sector?
A: The Singapore government has established the National Blockchain Strategy and the Singapore Blockchain Innovation Programme, which provide funding and support for blockchain-related projects.

Q: What is the number of active VC firms focusing on Web3 in Singapore?
A: There are over 30 active venture capital firms that focus on Web3 in Singapore.