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ARTICLE AD BOX
- Asia leads global crypto adoption with over 326.8 million owners, driving mainstream acceptance.
- Clear regulations and practical use cases fuel global cryptocurrency adoption, with Asia at the forefront.
Asia is strengthening its dominance in the cryptocurrency market, according to the latest Triple A report, which shows a stunning increase in crypto ownership across the continent. In 2024, Asia added around 58.6 million new crypto owners, increasing the total number of crypto holders in the area to over 326.8 million.
This figure indicates a 21.8% growth over 2023, when Asia had 268.2 million cryptocurrency owners. As a result, Asia currently accounts for the vast majority of global cryptocurrency ownership, which has reached 562 million, or roughly 6.8% of the world’s population.
North America comes in second with 72.2 million cryptocurrency owners, although it remains well behind Asia’s big lead.
According to Triple.A’s data report,Asia’s crypto ownership surges 21.8% in 2024, reaching 326.8 million.#cryptocurrency #BTC #ETH pic.twitter.com/sOvgWHvQ0l
— CCN (@CCNEnglish) September 23, 2024
UAE, Singapore, and Turkey: Leading the Crypto Ownership Surge
The UAE, Singapore, and Turkey lead the top 30 economies in terms of crypto ownership rates. The UAE has the highest crypto ownership rate, at 25.3%, followed by Singapore at 24.4% and Turkey at 19.3%.
Source: Triple AThese results highlight the fast adoption and integration of digital currencies, particularly in nations that are increasingly adopting financial technologies.
Thailand (17.6%), Vietnam (17.4%), Saudi Arabia (15%), Malaysia (14.3%), Hong Kong (14.3%), Indonesia (13.9%), and South Korea (13.6%) are also major contributors to Asia’s burgeoning cryptocurrency ecosystem.
The shifting regulatory landscape is one of the primary drivers of the global boom in crypto ownership. By 2024, clearer laws had changed cryptocurrencies from a somewhat specialist investment to a mainstream asset class in the global financial system.
These regulatory measures have greatly increased investor confidence, making the market more desirable to both institutional and retail investors. Furthermore, the introduction of ground-breaking products such as Bitcoin Spot ETFs has increased legitimacy and drawn a broader range of investors to the cryptocurrency market.
Events such as the Bitcoin Halving contribute significantly to the interest and participation of both investors and fans. The prospect of large gains frequently causes a sense of FOMO (fear of missing out), encouraging more people to invest in the cryptocurrency market.
This excitement is spreading beyond online forums and into regular conversations, making cryptocurrencies a mainstream topic. As a result, educational facilities like Binance Academy, Crypto.com University, and Coinbase Institute are developing to fulfill the growing demand for cryptocurrency and blockchain technology education.
Furthermore, cryptocurrency is no longer just an investment vehicle. They have developed into a reliable payment method that both customers and businesses use in everyday transactions.
This transition is seen in projects such as Grab’s collaboration with Triple-A, which allows users to fill up their wallets with digital currencies.
This integration enables users to use their digital assets for ordinary tasks such as ordering deliveries, booking transportation, and even purchasing coffee from local stores. Such practical applications demonstrate how cryptocurrencies are increasingly becoming a part of daily life.
On the geopolitical front, as we previously highlighted, the BRICS bloc (Brazil, Russia, India, China, and South Africa) is also making substantial progress toward building a blockchain-based international payment system, with a particular emphasis on de-dollarization.
This initiative seeks to undermine the dominance of existing systems like SWIFT by encouraging the use of non-dollar currencies such as the Russian Ruble and the Chinese Yuan.
English (US)