Digital asset adoption in APAC reached 22% in 2024, almost three-times the global average of 7.8%, new research from Consensus finds.
According to the report Driven By Demand: The People-Powered Crypto Movement in Asia Pacific conducted ahead of Consensus’ expansion to Hong Kong, this rise is driven by an interplay of evolving regulatory environments, speculative interest, practical utility, and a deep-seated belief in digital asset’s future potential.
The report, created in partnership with Protocol Theory, finds that Thailand has emerged as the top country in APAC for digital asset adoption at 44% followed by India (32%) and the Philippines (31%).
In addition, the report also observed:
- Of the nearly 4,300 respondents across APAC, 61% of individuals believe that digital assets will play a significant role in the future of global finance and investment.
- Over half of those surveyed (51%) believe that digital assets will be used for everyday purposes, as well as help promote financial inclusion globally.
- 37% of surveyed digital asset adopters wanted to gain financial control over personal finances without relying on banks.
Michael Lau, Chairman, Consensus Hong Kong, said: “We are seeing the start of new era where APAC is leading the charge and influencing other regions to pick up the pace in building a more interconnected and seamless global economy.”
The October 2024 report is based on a quantitative research study involving nearly 4,300 individuals aged 18 and above across ten APAC markets – with about 400 respondents from each.
