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HomeTech TrendsHong Kong’s crypto adoption ranking drops one spot in Chainalysis report

Hong Kong’s crypto adoption ranking drops one spot in Chainalysis report

TechTech Trends

Hong Kong’s crypto adoption ranking drops one spot in Chainalysis report as city tries to woo virtual asset exchanges

Hong Kong ranks 47th in crypto adoption this year, down from 46th place in 2022, which comes as the city rolled out a new industry licenceMainland China also fell one spot to 11th place, with lower-middle-income countries India, Nigeria and Vietnam topping the listBlockchainXinmei ShenPublished: 7:00pm, 14 Sep, 2023Why you can trust SCMP

Hong Kong saw a modest slip in its global cryptocurrency adoption ranking from blockchain research firm Chainalysis, despite the city’s plans to turn itself into a virtual asset hub.

Hong Kong ranks 47th in Chainalysis’ upcoming 2023 Global Crypto Adoption Index, down one spot from the 46th place in 2022, the firm told the Post on Thursday.

An excerpt of the index, published on Tuesday, showed the top 20 rankings out of 154 countries and regions that Chainalysis tracks to “identify countries where the most people are putting the greatest share of their wealth into cryptocurrency”.

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India topped the list, followed by Nigeria, Vietnam, the US, Ukraine and the Philippines.

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