Asia is experiencing a remarkable surge in cryptocurrency adoption, solidifying its position as the global leader in crypto ownership. According to Triple.A’s latest data, the number of crypto holders in Asia grew by 21.8% in 2024, adding 58.6 million new users and pushing the total number of crypto owners to 326.8 million.
This increase reflects the growing interest and confidence in digital currencies across the continent. Asia’s dominance in the global crypto market continues to expand, with over half of the world’s crypto holders residing there.
Asia’s Dominance in Crypto Ownership
Worldwide, the adoption of cryptocurrency reached 562 million, which is 6.8% of people in the global population. Leading this trend is Asia with over 326.8 million card holders, representing a considerably large portion of the global ownership. Among Asian countries, the UAE tops the list with 25.3% of users owning crypto, followed by Singapore with 24.4% and Thailand at 17.6%.
Other vital contributors also include Vietnam at 17.4%, Saudi Arabia at 15 %, Malaysia and Hong Kong at a 14.3 % respectively. Furthermore, 13.9% of the respondents were from Indonesia, and 13.6% were from South Korea. These stats show that there is a high level of interest in cryptocurrencies as an investment asset and as a financial instrument in the region.
Eastern Asia’s Leading Role in Crypto Transactions
Eastern Asia continues to dominate in terms of crypto value received, making up nearly 9% of the global total between July 2023 and June 2024. The region has processed over $400 billion in on-chain value during this period.
Centralized exchanges are a major factor in East Asia’s crypto ecosystem, accounting for around 65% of the region’s crypto transaction value. Moreover, institutional and investor transfers are driving this activity, positioning East Asia as a hub for large-scale professional crypto transfers.
Hong Kong and South Korea Boost Regional Activity
Hong Kong has seen a substantial increase in cryptocurrency activity despite restrictions in Mainland China. Chainanalysis reports an 86% year-over-year surge in transaction value, with the city climbing from 47th to 30th in the Global Cryptocurrency Adoption Index.
Analysts attribute this rise to regulatory clarity and the launch of exchange-traded funds investing in crypto tokens. In contrast, South Korea recorded the highest transaction value in East Asia, accumulating over $130 billion between July 2023 and June 2024. This growth stems from investors’ mistrust of traditional currencies and major corporations like Samsung integrating blockchain technology into their operations.
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