Asia leapfrogging the West in onchain retail use as regional hubs lead on stablecoin rules

Industry experts at Consensus Hong Kong noted that Asia is surpassing Western markets in onchain financial services adoption, driven by a focus on high-frequency retail applications and cross-border trade, contrasting with the West's focus on institutional asset management. Suhan Zhao of Aptos Labs highlighted strong adoption of digital payments and willingness to deploy new technology, citing Lotte Group's successful issuance of millions of mobile service vouchers on the Aptos network. Regulatory progress, particularly in Hong Kong and the UAE, is crucial, with Niki Ariyasinghe of Chainlink Labs stating that stablecoin adoption is often driven by the fundamental need for efficiency—being cheaper, quicker, or more convenient. Furthermore, local stablecoins are deemed essential for mass market penetration, as small businesses engaged in international trade prefer accepting local currency equivalents over USD-pegged stablecoins for daily transactions.

(Source：CoinDesk)