Digital asset adoption in the Asia-Pacific region reached 22% in 2024, almost three times the global average of 7.8%, according to a recent report.

Thailand has emerged as the top country in the region for digital asset adoption at 44%, followed by the United Arab Emirates (UAE), India and the Philippines, finds the Driven By Demand: The People-Powered Crypto Movement in Asia-Pacific report published by Consensus, the world’s largest and most influential gathering of the digital assets, blockchain and Web3 communities.

Digital asset ownership or usage within Asia-Pacific, the report notes, falls into three tiers of digital asset adoption, categorized by:

• Higher: Thailand (43%), the UAE (37 %), India (32%) and the Philippines (31%)
• Mid-Level: South Korea (28%), Hong Kong (24%) and Singapore (23%
• Lower: Australia (18%), China (17%), Japan (12%).

In addition, the report points out the following trends derived via its survey:

• Of the nearly 4,300 respondents across Asia-Pacific, 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.

“Considering recent ETF approvals, institutional investments and increasing regulatory clarity in the region, we are seeing the start of new era where Asia-Pacific is leading the charge and influencing other regions to pick up the pace in building a more interconnected and seamless global economy.”

The report is based on a quantitative research study involving nearly 4,300 individuals aged 18 and above across 10 Asia-Pacific markets: Australia, China, Hong Kong, India, Japan, the Philippines, Singapore, South Korea, Thailand and the UAE, with about 400 respondents from each market.