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Emerging Markets Drive Crypto Adoption Despite Western-Centric Product Design
Emerging Markets Drive Crypto Adoption Despite Western-Centric Product Design
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BTCCSquare news:
A glaring disconnect exists between crypto's growth engines and product development priorities. While India, Nigeria, and Indonesia topped Chainalysis' 2024 adoption rankings, most platforms continue optimizing exclusively for Western users. Paybis data reveals developing economies are growing user bases 66% year-over-year—twice the rate of mature markets.
The on-ramp solutions that succeeded in Europe and North America falter elsewhere. Developing markets see 14% lower KYC initiation rates, 20% fewer approvals, and 11% reduced transaction completion. "We're building bridges where the traffic isn't," observes Konstantins Vasilenko of Paybis, noting localization efforts remain disproportionately focused on saturated Western markets.
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