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Worldwide crypto adoption rises by 888% in 12 months: What this means for the future of finance

What the data tells us

Key insights

  • Clearly the adoption of crypto is skyrocketing as the report states but I’m surprised that the top 20 doesn’t feature even one country from europe, and the UK which is the world’s 6th largest economy.
  • The USA, China, Brazil and India are the only four entries that are also in the top 10 of the world’s largest economies. With the other 16 coming from developing economies, this shows that crypto is becoming an important consideration in the financial ecosystem of these emerging economies.
  • China only comes into the 2021 rankings in 13th place. Which is quite a considerable drop from its position last year at 4th place. Plus, the US dropped 2 places from 6th to 8th.
  • The team at CA noted “Many emerging markets face significant currency devaluation, driving residents to buy cryptocurrency on P2P platforms in order to preserve their savings. Others in these areas use cryptocurrency to carry out international transactions, either for individual remittances or for commercial use cases, such as purchasing goods to import and sell. Many emerging markets represented here limit the amount of the national currency that residents can move out of the country. Cryptocurrency gives those residents a way to circumvent those limits so that they can meet their financial needs.

What can we gather from this

The future is now

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Ross Stevenson

Learning and Performance Strategist | I write about building a rewarding career in the modern world