In 2023, Singapore became the first country to introduce a state pension program with the option to receive payments in cryptocurrency. The platform was launched in collaboration with the Monetary Authority of Singapore (MAS) and with the support of local crypto platforms such as Coinhako. Citizens were offered a choice between fiat currency or popular cryptocurrencies, including bitcoin and ether, to receive pension payments.
Such an initiative allowed Singaporeans not only to diversify their pension assets, but also to take advantage of decentralized finance (DeFi). This move was especially appreciated by those who were already involved in the cryptocurrency market, as it made new long-term savings opportunities available.