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More Than One Way Forward - How Is American Crypto Diverging from the Rest of the World?

American Crypto Embraces TradFi While Asia Leads with Real-World Crypto Solutions

Author

Austin Hodge
September 27, 2024 • Read Time: 12 minutes

In a landscape where cryptocurrencies are redefining economies, the US is carving a distinct route by intertwining with traditional finance at an accelerated pace. Stephan Lutz, CEO of BitMEX Group, spotlighted this unique trajectory at the Token2049 event in Singapore. As American crypto firms like Coinbase, Circle, and Kraken generally serve customers with established banking access and increasingly dovetail with the established financial sector, other booming crypto regions like Asia and India are charting a different path forward.

In those regions cryptocurrency evolution trends toward more practical applications as evidenced by cryptocurrencies and stablecoins rapidly replacing fiat currency in Eastern Asia, with Hong Kong leading in adoption. Over half of customers in these regions are “unbanked,” necessitating crypto solutions that provide essential, real-world solutions like cross-border remittances, driving the industry's evolution towards financial inclusion in the region.

So much opportunity and so many paths to explore - Let's dive in!

  • BitMEX CEO Stephan Lutz predicts US crypto will merge with traditional finance due to unique regulations. — Read More

  • Putin announces BRICS nations are creating their own payment and settlement system. — Read More

  • MENA's crypto market surges with Türkiye, UAE, Saudi Arabia, and Qatar as leaders. — Read More

  • HKMA and SFC to adopt global reporting standards for OTC crypto derivatives by 2025, mirroring the EU framework. — Read More

  • Circle expects significant growth in EU crypto and stablecoin market driven by MiCA. — Read More

  • Crypto PACs invest $40M backing Bernie Moreno against Sherrod Brown, shaking up Ohio's Senate race. — Read More

  • Revolve Labs withdrew its crypto mining facility proposal in Windom, Minnesota, due to noise concerns raised by residents. — Read More

  • Gemini's Cameron Winklevoss demands $1.5B from DCG, alleging fraud and deceit. — Read More

  • Leverage Shares debuts 3x leveraged and inverse MicroStrategy ETPs on the London Stock Exchange. — Read More

  • Defi.money partners with LayerZero to introduce omnichain liquidity through the OFT standard. — Read More

  • Civic teams up with Rentality to provide blockchain-based ID verification for car rentals. — Read More

  • Mawari secures $10.8 million in funding to enhance its decentralized spatial computing network, backed by major Web2 and Web3 investors. — Read More

  • Bitget Wallet introduces OmniConnect to link Telegram mini-apps with multichain blockchains including Solana, TON, and EVM-compatible chains. — Read More

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