Central & Southern Asia and Oceania (CSAO) region dominates the top of the index for the adoption of crypto at the grassroots level, according to Chainalysis’ 2023 Geography of Crypto Report. India leads the table.
The report says the circumstances driving adoption in each CSAO country are unique, which leads to different usage trends and breakdowns of most popular services.
Worldwide grassroots crypto adoption is down. While there’s been a marked recovery since the doldrums of late 2022, around the time FTX imploded, grassroots adoption is still well off its all-time highs.
But that isn’t true everywhere. More specifically, there’s one crucial segment of countries where grassroots adoption has seen a much stronger recovery than anywhere else: Lower middle income (LMI) countries. LMI is one of four designations used by the World Bank to classify countries by wealth level, based on gross national income (GNI) per capita.
Also published on Medium.
