Crypto adoption will be driven by high-growth markets, with or without the US

Opinion by: Dominic Schwenter, chief operating officer of Lisk

The US is in the middle of a crypto boom. Exchange-traded fund approvals have opened the door to institutional adoption, liquidity is increasing and regulatory clarity is beginning to take shape under a more crypto-aligned administration.

Filings from the Securities and Exchange Commission referencing blockchain hit an all-time high in February 2025, signaling a broader shift in how seriously the technology is being taken at the highest levels.

This momentum is good for the industry. US-based crypto companies have spent nearly a decade building through regulatory uncertainty, and they deserve the attention and rewards that are finally arriving. Is institutional support finally showing up? It’s overdue — and well-earned.

Zooming in on the US too much, however, puts the industry at risk of missing what’s happening elsewhere. Some of the most important crypto adoption today takes root in places far outside the spotlight.

The most exciting crypto adoption isn’t happening on Wall Street. It is unfolding in high-growth markets where people use crypto not to speculate but out of necessity. These communities didn’t wait for headlines. They built through every cycle and are now setting the pace for where Web3 is going next.

High-growth markets are leading in adoption

Fifteen of the top 20 countries on Chainalysis’s 2024 Global Crypto Adoption Index are in high-growth regions such as Indonesia, Vietnam, the Philippines and Nigeria. These aren’t just speculative hotspots. In many of these countries, crypto is part of daily life. Unlike boom-and-bust markets, adoption here hasn’t wavered. It is grounded in utility.

In many of these economies, crypto helps families facilitate remittances, offers a safer way to store value when local currencies aren’t stable and lets small businesses move money without friction.

In the West, crypto still carries the sheen of a high-risk investment. In high-growth markets, it’s already embedded into daily life. That’s what real adoption looks like.

Builders are shifting to high-growth markets

As steady, practical usage rises, builder activity follows. Currently, the global developer map is changing fast

According to the 2024 Electric Capital Developer Report, Asia now accounts for 32% of active crypto developers — a massive jump from just 12% in 2015. Over the same period, the US’s share dropped sharply, to 19% from 38%. The blockchain talent pool isn’t shrinking; it’s moving to where the momentum is.

Additionally, 41% of all new crypto developers now come from Asia, illustrating a growing pipeline of builders emerging outside of traditional tech hubs. These aren’t just hobbyists but the next wave of founders, architects and engineers choosing to build closer to the problems crypto can solve.

Related: Xend Finance, Risevest launch tokenized stocks platform in Africa

This shift isn’t limited to Central Asia. Africa, South America and Southeast Asia are all seeing steady increases in developer activity, while North America and Europe continue to decline in relative share.

The message is clear: Web3 innovation is no longer anchored to a single geography. It’s driven by builders who are closer to real-world needs — and who are designing for them.

Blockchain solving real problems

The surge in developer activity and adoption across high-growth markets isn’t happening in a vacuum. Instead, it’s tied to real-world effects

For example, nine of South Africa’s largest food and beverage wholesalers have partnered with LovCash, a blockchain-powered end-to-end digital payments platform, to digitize the country’s informal trade economy. In just five months, over 3,700 mom-and-pop shops have joined the platform, a rapid shift toward a more connected, cashless ecosystem.

Blockchain is serving as a trusted tech infrastructure for South Africa’s informal supply chain. In regions where traditional infrastructure is often fragmented or absent, LovCash enables seamless, cashless transactions between small, often unbanked retailers and wholesalers. Beyond simplifying payments, the system provides wholesalers with real-time insights into sales trends and product demand, enabling smarter planning and reducing waste.

There’s no token speculation here, no flashy NFTs; just a real-world solution to a real-world supply chain challenge.

A call to action for Web3 builders

What’s happening in the US is worthy of celebration, but it’s not the whole story. Real-world adoption, momentum from builders and real use cases are accelerating in high-growth markets, where crypto is already making a difference.

This is where Web3’s long-term effect will be shaped. Builders and investors should stop waiting for validation from Washington or Wall Street and start paying attention to the places where the tech is solving real problems right now.

Crypto didn’t wait for the US to matter. If the goal is to build something truly global, it’s time to follow the people already using it to make things work.

Opinion by: Dominic Schwenter, chief operating officer of Lisk.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

• #Blockchain
• #Cryptocurrencies
• #Philippines
• #Asia
• #Vietnam
• #Nigeria
• #Indonesia
• #Adoption
• #United States
• #Developers
• #South America
• #Cryptocurrency Investment Add reaction