The rise of decentralized finance (DeFi) in Asia is a clear indicator of the region’s growing influence in the global financial landscape. According to recent data, DeFi accounted for 55.8% of transaction volume in the Central and South Asian Oceans (CSAO) from July 2022 through June 2022, marking a substantial increase from the previous year’s 35.3%. This over 20% jump reflects the rapid adoption and expansion of DeFi in the region.
Furthermore, when considering purchasing power, CSAO also “dominates.” This is evidenced by the fact that six out of the 10 top countries in terms of DeFi transaction volume are located in the Asia-Pacific region. These countries include India, Vietnam, the Philippines, Indonesia, Pakistan, and Thailand.
This data underscores the significance of Asia, particularly the Asian-Pacific region, in the global DeFi market. The increasing prevalence of DeFi in these countries highlights the region’s embrace of decentralized financial systems and the potential for further growth and development in the future.
