Map of Southeast Asia. Image: iStock
Cryptocurrencies are increasingly being used for remittance payments in Southeast Asia. Image: iStock

Crypto adoption is accelerating in Southeast Asia, with 21% of Vietnamese and 20% of Filipinos surveyed by Statista saying they used digital assets last year. 

As in Nigeria, which leads the world in adoption (33%), remitances make up much of the Vietnamese and Filipino demand for crypto.

Vietnam ranks second by adoption despite its central bank not recognizing crypto as a legitimate means of exchange. In May 2020, Vietnam’s government set up a research group to develop and scrutinize policy proposals concerning digital currencies, indicating a potential softening of its stance on the nascent asset class, Cointelegraph reports.

Turkey and Peru took third and fourth place, with 16% of respondents from each country using crypto last year. Switzerland came in fifth with 11%.

Japan came in last place globally with just 4% – tying with Denmark.

The findings were based on Statista’s Global Consumer Survey, which covered 74 countries.