A new report released by ChainAnalysis has highlighted the level of growth in adoption of crypto on a global scale. Ian Lowe from dacxi joins ausbiz to discuss the devil in the details. Global adoption of cryptocurrency is up 881% on the year, says Ian, and it’s the emerging market countries leading the way. Vietnam, India and Pakistan are at the top of the list, while China has slipped well and truly out of the top 5. Peer to peer platforms are seeing the majority of the transactions rather than exchange. ChainAnalysis have indicated that the purpose of the report is to capture crypto adoption by individuals, rather than big institutions and the results show most people are using the coins for savings rather than speculation or trading. Ian suggests this is only the beginning when it comes to growth explosion in the region. He also goes on to discuss the latest bank to join a growing number of institutions with exposure to crypto. Wells Fargo has now joined an increasingly non-exclusive group.
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