Article source: Event collection
Consensus's latest research finds that the adoption rate of digital assets in the Asia-Pacific region (APAC) will reach 23.9% in 2024, three times the global average of 7.8%. This research report, titled (Driven By Demand: The People-Powered Crypto Movement in Asia Pacific), was completed before Consensus expanded its activities to Hong Kong. The report indicates that the high adoption rate in the APAC region is driven by a constantly evolving regulatory environment, speculative interest, practicality, and a strong belief in the future potential of digital assets.
This report, co-authored with Protocol Theory, notes that Thailand is the country with the highest adoption rate of digital assets in the Asia-Pacific region, reaching 44%, followed by the UAE, India, and the Philippines. The report finds that the ownership or usage rate of digital assets in the Asia-Pacific region can be categorized into three levels:
High adoption rates: Thailand (44%), UAE (39%), India (34%), Philippines (32%);
Moderate adoption rates: South Korea (29%), Singapore (25%), Hong Kong (25%);
Low adoption rates: Australia (19%), China (17%), Japan (13%).
Additionally, the report's authors observed the following trends through their surveys:
Among nearly 4,300 respondents in the Asia-Pacific region, 62% believe that digital assets will play an important role in future global finance and investment.
More than 51% of respondents believe that digital assets will be used for everyday purposes and will help promote global financial inclusion.
35% of digital asset adopters want to gain financial control without relying on banks.
Michael Lau, chairman of Consensus Hong Kong, stated: "Ahead of the Consensus Hong Kong event scheduled for February 2025, we wish to showcase the Asia-Pacific region's leadership in the global development of digital assets. Given the recent ETF approvals, the increase in institutional investment, and the growing clarity of regional regulations, we see the beginning of a new era. The Asia-Pacific region is leading the global race for digital assets and influencing other regions to accelerate their pace in building a more interconnected and seamless global economy together."
This report, published in October 2024, is based on quantitative research covering nearly 4,300 individuals aged 18 and older across ten markets in the Asia-Pacific region (Australia, China, Hong Kong, India, Japan, the Philippines, Singapore, South Korea, Thailand, and the UAE), with approximately 400 respondents from each market. The study aims to clarify the drivers and enablers influencing digital asset adoption in the Asia-Pacific region, as well as the motivations of adopters for choosing digital assets.
To read the full report and register for a Consensus Hong Kong pass, please visit https://consensus-hongkong2025.coindesk.com/register/
About Consensus
Since 2015, Consensus has been the largest and most influential gathering for the digital asset, blockchain, and Web3 community globally. Consensus has now moved to Hong Kong, bringing together the most important voices from the East and West for critical dialogues and trading opportunities.
Consensus Hong Kong gathers leaders from the global technology and finance sectors to debate urgent issues, announce important developments and transactions, and share their visions for the future. Consensus is produced by the award-winning media CoinDesk and adheres to its commitment to independent and fair journalism. Consensus sets the agenda for the next wave of innovation and transactions in the cryptocurrency and Web3 space.
About Protocol Theory
Protocol Theory is a leading strategic market research and consumer insights company focused on Web3, digital assets, and emerging technologies. We provide data-driven insights to support product innovation, user experience, brand communication, and market strategies. By combining our industry expertise with insights into consumer behavior, we have a unique advantage in helping clients understand their audiences, establish competitive advantages, and foster long-term engagement for clients in the Web3 space. Our mission is to bring clarity to the on-chain world through in-depth understanding of consumers and actionable insights.