Asia and Africa's Crypto Revolution: Startups Surge in H1, Outpacing US and Canada

IconCryptoNewsTerminal Staff10 Jul, 2024

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Asia and Africa's Crypto Revolution: Startups Surge in H1, Outpacing US and Canada

According to a recent report by Cointelegraph, citing data from web3 startup accelerator Defi Alliance, the number of crypto startups founded in Asia and Africa has surpassed those in the US and Canada in the first half of this year. The data on the country-wise distribution of new crypto startups shows that the US and Canada together accounted for 29% of the total, while Asia and Africa made up 32% of the total, with 26.8% and 5.2%, respectively. This surge in crypto startup activity in Asia and Africa is seen as a reflection of the growing adoption of cryptocurrencies in emerging markets, despite regulatory uncertainty in the US.