The GTM in Asia report is published in collaboration with Primitive Ventures, and provides a blueprint for navigating Asia’s crypto frontier.
Foresight Ventures and Primitive Ventures released a comprehensive report, GTM in Asia, which explores the state of Asia’s crypto markets.
The Asia-Pacific region currently represents 60% of all crypto users, contributing the largest share of global liquidity. The region’s success is fuelled by diverse cultural philosophies, economic structures, plus behavioural trends, and the GTM in Asia report aims to differentiate the intricacies of each country’s approach. Key findings include:
- Regional Dominance: Five of the top 10 countries in the 2024 Global Crypto Adoption Index are in Asia, with India, Indonesia, and Vietnam leading the charge. High adoption rates are driven by centralised exchanges and price-sensitive communities.
- Wealth Disparities and Behavioural Trends: The region’s socio-economic diversity has given rise to unique behaviours such as airdrop farming and meme-based speculation, showcasing opportunities for tailored crypto solutions.
- Global Connectivity: Asia’s internal trade and capital flows highlight its cohesion, with 57% of intra-regional trade and 55% of foreign direct investment inflows reinforcing its role as a global crypto powerhouse.
Country-specific insights further underscores Asia’s influence too. Despite regulatory challenges in China, there is still a resilient attitude towards crypto adoption, with Hong Kong serving as a key gateway.
Singapore benefits from progressive regulatory frameworks and high crypto ownership, while Vietnam emerges as a GameFi leader. The Philippines excels in blockchain remittances, leveraging its diaspora and gaming culture.
Forest Bai, Co-Founder of Foresight Ventures, said, ““The international division of labour in the Web3 industry is even more critical compared to traditional internet sectors. Asia stands as a significant hub for crypto innovation, users, and trading markets. Through this report, we aim to highlight Asia’s diverse cultural and market characteristics.”
Dovey Wan, Founder of Primitive Ventures, said, ““Over 50% of Americans don’t have passports, 80% of Chinese have never travelled abroad, and even in the EU, only ~40% of citizens have ventured beyond their borders. While crypto is inherently global, humans are naturally local and tribal, making global thinking both uncommon and challenging. As multicycle players with a truly global-minded team, Primitive is committed to bridging these gaps.”
Read the full report here.
