APAC Leads Crypto Charge: Digital Asset Adoption Hits Triple the Global Average, New Report Reveals!

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The Asia-Pacific region (APAC) is experiencing a big change in how people handle, with cryptocurrencies taking center stage. From financial hubs like Hong Kong and Singapore to emerging markets in Southeast Asia, the adoption of digital assets is creating waves. In APAC, crypto isn’t just about making money—it’s becoming a part of everyday life, driven by people and culture, not just tech hubs.

Crypto Adoption Surges Across APAC

A report by Consensus titled “Driven By Demand: The People-Powered Crypto Movement in Asia Pacific” shows that APAC’s crypto adoption has hit 22% in 2024, almost three times the global average of 7.8%. 

Thailand leads the pack with a remarkable 43% adoption rate, followed by the UAE (37%), India (32%), and the Philippines (31%). Mid-level adopters include South Korea (28%) and Hong Kong SAR (24%), while countries like Japan (12%) and Mainland China (17%) lag.

The survey of nearly 4,300 participants across ten APAC countries reveals that over half of the respondents (51%) view digital assets as key to financial inclusion. Moreover, 37% believe crypto offers greater personal financial control without relying on banks. 

This shows that people in the region are adopting crypto not just to make profits but also because it’s useful in daily life and fits well with their culture.

Changing Sentiment Toward Crypto

Over the past year, the sentiment around cryptocurrencies in APAC has shifted significantly. With fewer scandals and stronger local activity, trust in the industry has grown. Unlike in some Western regions, where skepticism toward traditional banks drives adoption, APAC users are more focused on crypto’s everyday benefits.

Interestingly, only 18% of those surveyed said they distrust banks, showing that people in the region see crypto as a tool for solving real-world problems rather than a reaction to financial systems.

Race to Become a Crypto Hub

According to the report, 69% of respondents believe clear rules are important for protecting users. Perhaps, regulation alone isn’t the driving force behind adoption. Instead, it complements the strong demand already present in many markets. 

Countries with higher adoption rates, like Thailand and the UAE, tend to have better regulatory clarity, helping the ecosystem grow further.

APAC Leads the Way

Michael Lau, Chairman of Consensus Hong Kong, said APAC is setting the pace for the global crypto market. He noted how recent Bitcoin and Ethereum ETF approvals, along with increased institutional investments, are setting the stage for APAC to guide the world toward a more connected financial future.

With its unique mix of cultural acceptance, practical usage, and evolving regulations, APAC is shaping not just the future of crypto but also the global financial system. This people-led movement is proof that when demand meets innovation, real change happens.