Cryptocurrency adoption is skyrocketing across the world as more and more investors and common folk clamber aboard the crypto bandwagon. Pakistan, of course, is no exception, and if anything, it has experienced quite a boost in terms of cryptocurrency adoption over the past few years. In fact, it now counts itself among the top 15 countries in the world in terms of cryptocurrency adoption.
This ranking comes straight out of blockchain data platform Chainalysis’s Global Crypto Adoption Index report. According to the report’s findings, Ukraine and Russia are the most crypto-savvy nations out there, ahead of traditional tech behemoths like the USA, China, and Japan.
African nations landed some big spots on the top 20 list as well. Kenya comes in 5th, South Africa at 7th and Nigeria sitting comfortably on 8th.
In Asia, Pakistan ranks an impressive 15th in the world for digital currency adoption.
According to Chainalysis, it is also estimated that Pakistan received in excess of $1.5 billion in crypto-cash last year, with many analysts suggesting that it could’ve been higher in 2020-21 if transactions were made easier.
Besides Pakistan, other Asian countries also showcased impressive progress towards crypto adoption in the past 14 months. China comes in 4th, Vietnam at 10th, India 11th, Thailand 12th and South Korea at 17th.
The Middle East is also catching up, despite the fact that many countries in the region still do not allow any activities connected to blockchain.
The key takeaways from the report are that cryptocurrency is truly a global phenomenon at this point, and that developing nations in particular are exhibiting high levels of crypto activity.