– Conferences in Asia during September had higher attendance and a more optimistic sentiment towards the future of digital assets.
– Countries like South Korea, Singapore, and Hong Kong have momentum in their digital asset industries.
– Interest in crypto is strong among retail traders in South Korea, driven partly by the country’s culture of gambling.
– Institutional investors also have a lot of money ready to enter the crypto space in South Korea.
– The sector can be challenging for Westerners to access due to the political and corporate structure in Asia.
– South Korea-based Upbit has higher monthly trading volumes than US-based Coinbase.
– Hong Kong has made efforts to be more crypto-friendly and has received support from China in this regard.
– The excitement and interest in Asia towards crypto are in contrast to the situation in the US.
The article highlights the growing momentum and optimism surrounding the digital asset industry in Asia, particularly in countries like South Korea, Singapore, and Hong Kong. The region is seen as a potential escape hatch for younger Koreans who view crypto as a way to attain wealth that traditional assets like real estate may not provide. Despite the challenges of navigating the political and corporate structure, many firms are beginning to enter the South Korean market due to tepid interest in the US. Asian markets, such as Upbit in South Korea, also exhibit higher monthly trading volumes than US-based platforms like Coinbase. Additionally, Hong Kong has made strides to become more crypto-friendly with China working behind the scenes to support crypto innovation in the city. Overall, industry insiders suggest that Asia is currently more vibrant and exciting for digital assets compared to the US.
This is sponsored by: Learn Bitcoin Option