
- Asia-Pacific is leading in the adoption of digital assets worldwide.
- About 46% of the regionโs population uses digital wallets regularly.
- Circle believes the region โis primed to adopt stablecoins more widelyโ soon.
The Asia-Pacific (APAC) region is driving digital assets adoption at an unprecedented scale, with USDC stablecoin issuer Circle heralding the region for taking โa leading role on the worldโs technology stage.โ
In a report issued online on January 15, Circle described APAC as a โyoung, mobile-first, and wallet-readyโ region, where the digital wallet penetration rate could reach 58% by 2025.
46% of 1.8 Billion Users of Digital Wallets
Per the report, presently, 46% of APACโs population regularly use a digital wallet.
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โThe region is also ahead of the curve when it comes to digital asset adoption. Today, Asia Pacific accounts for 29% of digital currency value received, compared to 19% in North America and 22% in Western Europe,โ the report read.
According to Circle, the rapid adoption of digital assets โhas occurred in lockstep with key Asia Pacific policymakers and regulators,โ notably Singapore, India, Hong Kong, Thailand, and Malaysia, which have all established around-the-clock real-time payment systems.
โBuoyed by the success of these real-time payment systems, regulators in the Asia Pacific region are looking at the next financial evolution and moving rapidly to establish regulatory frameworks for payment stablecoins,โ Circle wrote.
Looking ahead, Circle believes that APAC โis primed to adopt stablecoins more widely,โ particularly for cross-border use cases, as billions of unbanked people in the region turn to digital apps for transactions.
The company noted that increased stablecoin adoption would expand economic opportunities in cross-border payments, trade finance, and remittances.
Read about APACโs upcoming regulatory shift according to Rippleโs Policy Director:
Rippleโs Policy Director Predicts Regulatory Shift in APAC
Stay updated on Circleโs expansion in Asia and Latin America:
Circle Continues Expansion with USDC in Asia and Latin America