Eastern Asia is embracing the crypto wave! đ
- Stablecoins and cryptocurrencies are becoming the new norm in some Eastern Asian countries, replacing traditional fiat currencies.
- Eastern Asia is now the sixth-largest crypto economy, capturing 8.9% of global crypto value from June 2024 to July 2023.
- High inflation and fiat devaluation are pushing this trend, says Maruf Yusupov of Deenar.
- Stablecoins offer cheaper, faster cross-border transfers, with remittance fees averaging 7.34%.
- Institutional investors are leading the charge, favoring decentralized exchanges for their arbitrage opportunities.
- Hong Kong is shining bright with an 85.6% growth in crypto adoption, aiming to be a global crypto hub.
Keep an eye on this space; the crypto revolution is just getting started! đ
