CoinDesk Podcast Network MARKETS DAILY: Crypto Update | What's Driving Crypto Growth in APAC?
Jan 27, 2025
Alistair Rennie, Protocol Theory's Global Head of Innovation & Thought Leadership, shares insights on the explosive growth of crypto in the APAC region. He highlights how personal beliefs, rather than institutional pressures, are driving adoption. Rennie contrasts the financial outlooks of developed and emerging markets, emphasizing the optimistic tech adoption in the latter. The discussion also covers crypto's dual role as an investment and payment method, and explores its practical application in emerging economies, showcasing its potential to revolutionize finance.
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APAC Adoption Drivers
- Crypto adoption in APAC is driven by underlying belief in its future, not institutional investment or regulation.
- Emerging markets like Thailand, India, and the Philippines lead adoption, not developed ones like Japan or Singapore.
Emerging vs. Developed Markets
- Emerging markets have a larger appetite for new tech than developed markets, including crypto.
- People in emerging markets have less debt and are more optimistic about their financial future.
Beliefs Driving Adoption
- Two main beliefs are driving crypto adoption: its role in the future of investment and its use for everyday payments.
- Many believe crypto will be used for everyday payments, even where it isn't legal tender.