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 remittance, 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 share dropped sharply, from 38% to 19%. 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.
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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 being driven by builders who are closer to real-world needs — and who are designing for them.
Blockchain solves 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.
A clear example is PepsiCo South Africa’s use of blockchain for supply chain tracking in the informal trade sector. In a region where traditional infrastructure is often fragmented or absent, this implementation does what blockchain was meant to do: solve problems.
Using a blockchain-powered end-to-end digital payments solution like Lov.cash, PepsiCo enables cashless payments between small, often unbanked retailers and wholesalers. The system also gave wholesalers a clear view into what was selling and where — helping them plan smarter and cut down on waste. There’s no token speculation here, no shiny non-fungible tokens — just a real solution to a real supply chain problem.
Stories like this rarely get top billing, but they’re where the technology actually delivers. In places where basic infrastructure is lacking, blockchain isn’t an experiment. It’s a workaround. If the industry keeps chasing hype while ignoring this influence, it’ll miss the most significant chance to make a difference.
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.
Politics
US ambassador to Israel calls cabinet minister ‘delusional’ for claim UK played key role in Gaza peace deal
The US ambassador to Israel has called cabinet minister Bridget Phillipson “delusional” after she told Sky News the UK played a key role in the Gaza peace deal.
The education secretary told Sunday Morning With Trevor Phillips that Sir Keir Starmer’s presence at a signing ceremony for the ceasefire deal in Egypt on Monday “demonstrates the key role that we have played”.
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She did not say exactly what the UK’s role in the ceasefire, largely attributed to Donald Trump, is or was.
But she added: “We have played a key role behind the scenes in shaping this.
“It’s right that we do so because it’s in all of our interest, including our own national interest, that we move to a lasting peace in the region.
“These are complex matters of diplomacy that we are involved in. But we do welcome and recognise the critical role that the American government played in moving us to this point.”
However, the US ambassador to Israel, Mike Huckabee, reposted the Sky News clip of Ms Phillipson’s comments and said: “I assure you she’s delusional.
“She can thank Donald Trump anytime just to set the record straight.”
Mr Huckabee was part of the negotiating team for the peace deal, with Mr Trump calling the former Arkansas governor “AMAZING” as he said he “worked so hard, and did so much, to bring about peace in the Middle East”.
In August, Mr Huckabee said the UK and other European nations who said they would declare a Palestinian state were “having the counterproductive effect that they probably think that they want”.
Israel: UK did not play key role in peace deal
Israel’s deputy foreign affairs minister, Sharren Haskell, told Sky News the UK played “the opposite” of a key role in the peace deal after the Palestinian state declaration, which eventually happened in September.
She accused the PM’s initial threat “at a very sensitive time” in July of having “pushed Hamas to embolden their position and to refuse a ceasefire two months ago”.
“I think that right now, the quiet that was given during the negotiation, and to President Trump, had probably played a bigger role than what the government had done two months ago,” she said.
“The message that the UK government has sent Hamas was the message that: the longer they continue this war, they will be rewarded.
“I mean, you must understand that when a terrorist organisation is thanking you. You are on the wrong side of history.”
Read more:
Gaza latest: Hostages Square boos Netanyahu
Hamas official thanks Donald Trump for ceasefire deal
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Final preparations for hostages in Israeli hospital
Ms Phillipson stood by the decision to declare a Palestinian state, saying it was “the right thing to do”.
Husam Zomlot, the Palestinian ambassador to the UK, told Sky News it was a “moment of leadership” for the UK to declare a Palestinian state, and a “responsibility to begin to correct a century of the gravest historic injustices committed against our people”.
He added: “That moment three weeks ago, when the UK did recognise, is a moment when we can say that the wheels of history are turning in a different direction.”
No plans for British troops on the ground
The education secretary also told Sky News the government has “no plans” to put British troops into Israel or Gaza as part of a stabilisation force after the ceasefire.
The US military will help establish a multinational force in Israel, known as a civil-military coordination centre, which is likely to include troops from Egypt, Qatar, Turkey and the UAE.
Tens of thousands of Palestinians have walked back to Khan Younis in southern Gaza. Pic: AP
On Friday, US officials said up to 200 US troops already based in the Middle East will be moved to Israel to help monitor the ceasefire in Gaza.
The day before, President Trump announced Israel and Hamas had “signed off on the first phase” of a peace plan he unveiled last week.
Pic: Reuters
Aid trucks have been gathering in Egypt to cross into Gaza after months of warnings by aid groups of famine in parts of the territory.
In Israel, the remaining hostages are due to be returned from Gaza by Hamas on Monday under the first phase of the peace plan. Twenty are believed to still be alive, 26 have been declared dead, while the fate of two is unknown.
The ceasefire agreement has been made two years after Hamas stormed Israel on 7 October 2023, killing 1,200 people and taking 251 hostages.
Israel’s military offensive has killed more than 67,000 Palestinians in Gaza, according to the Hamas-run health ministry, which the UN deems reliable.
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