According to CoinCu, Central & Southern Asia and Oceania (CSAO) has become a significant player in the cryptocurrency market, with six of the top ten countries in the Global Crypto Adoption Index coming from the region. India leads the way with an estimated $268.9 billion in crypto assets, followed by Vietnam, the Philippines, Indonesia, Pakistan, and Thailand. CSAO is the world's third-largest crypto market, contributing nearly 20% to global crypto activity.

Decentralized Finance (DeFi) participation in CSAO has surged over the past year, accounting for 55.8% of regional transaction volume from July 2022 to June 2023, compared to 35.2% in the previous year. Institutional adoption has also accelerated, with 68.8% of total transaction volume attributed to transfers exceeding $1 million, compared to 57.6% in the previous period.

However, adoption patterns differ across CSAO, with the Philippines emphasizing crypto gaming and Peer-to-Peer (P2P) exchanges favored in Pakistan and Vietnam. The Philippines leads in crypto-related web traffic to gaming and gambling platforms at 19.9%, while Vietnam follows at 10.8%. Pakistan and Vietnam exhibit a higher share of activity on P2P exchanges, which are often favored in emerging markets or countries with sentient capital controls.