Crypto Investment in ASEAN

These statistics are revealed in the FinTech in ASEAN 2021 Report by UOB, PwC Singapore, and crypto firm Singapore FinTech Association (SFA). ATH for Fintech companies reached $3.5 billion during the first nine months in 2021. This is nearly triple the amount of 2020. This represents a 424% increase in the last year. Further explanation in ASEAN: Investment in crypto and technology companies are also showing strong growth.

As the world moves into the digital age, central and private banks all over the globe are exploring these technologies in an effort to promote faster, safer and more efficient economic transactions. Changes in the investment of Crypto are very encouraging in the ASEAN region (Association of Southeast Asian Nations). This is a complex issue that affects many countries. Therefore, it must discuss in many stages.

It increases 6x for the former, and 5x for it for the latter. However, crypto has outperformed alternative lending (e.g. Peer-to-peer lending platforms were eliminated from the top three spots, for the first time in six years.

This year, 44% of all FinTech funding pools in ASEAN were led by Singapore, which accounted for the majority. Indonesian came in second place. This chart shows the same.

Crypto: Then What Next Investment in ASEAN?

In a survey of over 3,000 people, almost nine in 10 respondents said they were optimistic about digital currencies. They are either open to the idea of using digital currencies in future. However, only 14% actually use digital currencies. This shows that the token has much to do before it is mainstream adopted. It is possible for it to go up in price, but you have to be patient.

The majority of respondents were open to using digital currencies from central banks (CBDC) for most transactions. A majority of respondents preferred the same.

Read Also: Iranians Who Have Cryptocurrency Reach 12 Million People

What does this mean? According to the report:

“Most people will still be happy to ‘wait’ and see, but they are motivated by the growing acceptance of digital currency by established businesses.” Also, regulators have accepted crypto exchanges.”

This research focuses on both the potential investment in crypto sector in ASEAN, and also the entire blockchain community. Tan Yinglan is the founding managing partner of Insignia Ventures Partners. He shares this optimism. He shared this opinion.

“We see ASEAN fintech regulation evolving towards the creation sandboxes, frameworks around emerging infrastructure like decentralized technologies (e.g. Blockchain, as blockchain-based platforms and startups raise more money and gain on increased consumer interest and decentralized finance.

Similar insights were highlighted in the earlier discussion. ASEAN countries are exploring investment in crypto (CBDC) to integrate their financial systems. More countries are exploring this “growing” group. It is possible that other countries will soon be able to adopt this system if it goes well.

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