Singapore, Singapore, January 9, 2025, PK Press Club
Foresight Ventures, the first and only crypto-focused VC bridging East and West, and Primitive Ventures, a frontier investment firm believing in financial populism and technolibertarianism, today unveiled its “GTM in Asia.” This comprehensive analysis explores Asia’s dynamic crypto markets, offering an essential guide to navigating the region’s unique challenges and opportunities.
Asia is the heart of the global crypto ecosystem, representing 60% of crypto users worldwide and contributing the largest share of global liquidity. The region’s dynamism stems from its diverse cultural philosophies, economic structures and behavioral nuances.
The main conclusions 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 unprecedented adoption of crypto in the region, driven by CEXs and price-sensitive communities.
- Wealth disparities and behavioral trends: APAC’s socio-economic diversity fuels dominant behaviors such as airdrop farming and meme-based speculation, highlighting opportunities for bespoke crypto products.
- Global Connectivity: Asia’s internal trade and capital flows highlight its interconnectivity, with 57% of intra-regional trade and 55% of FDI flows strengthening the region’s cohesion.
This collaborative report highlights the distinct expertise of Foresight Ventures and Primitive Ventures in building bridges between East and West.
Forest Bai, co-founder of Foresight Ventures, said:
“The international division of labor in the Web3 industry is even more critical than in traditional Internet sectors. Asia serves as an important hub for crypto innovation, users and business markets. Through this report, we aim to highlight the diverse cultural and business characteristics of Asia.
Dovey Wan, founder of Primitive Ventures, highlighted the global-local paradox in crypto adoption:
“More than 50% of Americans do not have passports, 80% of Chinese have never traveled abroad and even in the EU, only 40% of citizens have ventured beyond their borders. Although cryptography is inherently global, humans are naturally local and tribal, making global thinking both rare and difficult. As a multi-cycle player with a truly globally focused team, Primitive is committed to closing these gaps.
Highlights of the report by country
- China: Despite regulatory hurdles, crypto adoption is thriving across OTC markets and DeFi platforms. Hong Kong serves as a critical gateway, demonstrating the resilience of Chinese crypto participants.
- South Korea: A very liquid market driven by individual investors and local platforms like Upbit, with strong integration into the Kakao ecosystem.
- Singapore: A global innovation hub, benefiting from clear regulatory frameworks and a high crypto ownership rate (24.4%).
- Vietnam: A rising star in GameFi and blockchain education, supported by initiatives such as the Vietnam Blockchain Association and successful projects like .
- Philippines: A leader in blockchain remittances, leveraging its English-speaking diaspora and strong gaming culture.
For the full GTM report, please download the full report here: LINK
About Foresight Ventures
Foresight Ventures is the first and only crypto VC connecting 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 premier media network includes The Block, Foresight News, BlockTempo and Coinness. Foresight Ventures invests aggressively in the boldest innovations. they are dedicated to partnering with visionary projects and high-profile teams to help them succeed, reshaping the future of digital finance 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 company believes in the cypherpunk spirit as the driving force of financial populism and technolibertarianism. Over the past 10 years, Primitive Ventures has incubated and invested in more than 50 unicorn protocols and on-chain economies, making it a trusted partner for the next generation of leaders in the distributed economy.
For media inquiries, please contact [email protected]
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