Singapore, Singapore, 9 January 2025, Pakinomist
Foresight Ventures, the first and only crypto-focused VC bridging the gap between East and West, and Primitive Ventures, a cross-border investment firm that believes in financial populism and technolibertarianism, unveiled its “GTM in Asia” report today. This comprehensive analysis explores Asia’s vibrant crypto markets and offers a critical guide to navigating the region’s unique challenges and opportunities.
Asia is the heartbeat of the global crypto ecosystem that stands for 60% of worldwide crypto users and contributes the largest share of global liquidity. The dynamism of the region stems from its different cultural philosophies, economic structures and behavioral nuances.
Key findings highlight:
- Regional dominance: Five of the top 10 countries in the 2024 Global Crypto Adoption Index are in Asia, including India, Indonesia and Vietnam. This reflects the region’s unprecedented crypto adoption, driven by CEXs and price-sensitive communities.
- Wealth differences and behavioral trends: APAC’s socio-economic diversity fuels dominant behaviors such as airdrop farming and meme-based speculation, underscoring the opportunities for customized crypto products.
- Global connection: Asia’s internal trade and capital flows highlight its interconnectedness, with 57% of intraregional trade and 55% of foreign direct investment inflows strengthening the region’s cohesion.
This collaborative report highlights the particular expertise of Foresight Ventures and Primitive Ventures in bridging East and West.
Forest Bai, co-founder of Foresight Ventures, noted:
“The international division of labor in the Web3 industry is even more critical compared to traditional Internet sectors. Asia stands as an important 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, emphasized the global-local paradox in crypto adoption:
“Over 50% of Americans don’t have passports, 80% of Chinese have never traveled abroad, and even in the EU only ~40% of citizens have ventured beyond their borders. While crypto is inherently global, humans are inherently local and tribal people, making global thinking both unusual and challenging. As multicycle players with a truly global minded team, Primitive is committed to bridging these gaps.”
Country-specific highlights from the report
- China: Despite regulatory hurdles, crypto adoption is thriving on OTC markets and DeFi platforms. Hong Kong acts as a central gateway, demonstrating the resilience of Chinese crypto participants.
- South Korea: A highly liquid market driven by retail investors and homegrown platforms like Upbit, with strong integration into the Kakao ecosystem.
- Singapore: A global hub for innovation that benefits from a clear regulatory framework and a high crypto ownership rate (24.4%).
- Vietnam: A rising star in GameFi and blockchain education, driven by initiatives such as the Vietnam Blockchain Association and successful projects such as .
- Philippines: A leader in blockchain transfers, capitalizing on its English-speaking diaspora and robust gaming culture.
For the full GTM report, please download the full report here: CONNECTION
About Foresight Ventures
Foresight Ventures is the first and only crypto VC that bridges the gap between East and West. With a research-driven approach and offices in the US and Singapore, they are a powerhouse in crypto investing and incubation. Their leading media networks include The Block, Foresight News, BlockTempo and Coinness. Foresight Ventures aggressively invests in the most daring innovations. they are dedicated to partnering with visionary projects and top teams to help them succeed and reshape the future of digital economy and beyond.
For media inquiries, please contact [email protected].
About Primitive Ventures
Primitive Ventures is a multi-strategy investment firm led by industry veteran Dovey Wan. The firm believes in the spirit of cypherpunk as the driving force behind financial populism and technolibertarianism. Over the past 10 years, Primitive Ventures has incubated and invested in over 50 unicorn protocols and on-chain economies, making it a trusted partner for the next generation of decentralized economy leaders.
For media inquiries, please contact [email protected]
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