Hong Kong’s crypto adoption ranking drops one spot in Chainalysis report as city tries to woo virtual asset exchanges
- Hong Kong ranks 47th in crypto adoption this year, down from 46th place in 2022, which comes as the city rolled out a new industry licence
- Mainland China also fell one spot to 11th place, with lower-middle-income countries India, Nigeria and Vietnam topping the list
Hong Kong ranks 47th in Chainalysis’ upcoming 2023 Global Crypto Adoption Index, down one spot from the 46th place in 2022, the firm told the Post on Thursday.
An excerpt of the index, published on Tuesday, showed the top 20 rankings out of 154 countries and regions that Chainalysis tracks to “identify countries where the most people are putting the greatest share of their wealth into cryptocurrency”.
India topped the list, followed by Nigeria, Vietnam, the US, Ukraine and the Philippines.
The full report will be published next month, the firm said.
Mainland China ranked 11th this year, also one spot down from last year. However, it still outranked Russia, the UK, Japan and Canada, the top 20 ranking shows.
Chainalysis’ index measures transaction volumes across different types of cryptocurrency services, weighted based on a jurisdiction’s gross national income level specified by the World Bank.