Opinion by: Maksym Sakharov, group CEO at WeFi
The crypto industry has been overly fixated on a limited number of markets: the United States and the European Union. Discussions have mostly revolved around regulatory clarity, speculative gains, and institutional access, whether through Silicon Valley venture capital or Wall Street’s exchange-traded fund issuers.
This focus overlooks a more urgent reality: the future of crypto adoption lies not in New York, London, or Brussels, but in cities like Lagos, Buenos Aires, and Manila.
Some skeptics, particularly those who argue that crypto’s legitimacy hinges on institutional investments and regulatory approval in developed economies, might dismiss this assertion. However, the statistics tell a different story, one that is often ignored.
A recent Chainalysis report on crypto adoption indicates that India has topped the global list for three consecutive years in digital asset usage. Nigeria, Vietnam, and the Philippines closely follow behind.
These regions are not merely engaged in speculative trading; their use of crypto is rooted in a fundamental need for financial survival and utility. This is where genuine growth may be found—growth with the potential to transform monetary systems.
Where crypto already solves problems
Take Argentina, for example, where annual inflation has historically surpassed triple digits. Citizens there are converting their pesos into stablecoins, not for trading but to protect their wealth. They aren’t solely holding Bitcoin; they use dollar-pegged digital assets to purchase groceries and pay rent.
In Nigeria, the situation is similar, with residents utilizing crypto for cross-border trade and remittances, significantly reducing the high fees from traditional money transfer services. The Chainalysis report also notes that Sub-Saharan Africa enjoys the fastest growth in crypto users globally, with nearly 20% more users each year.
These instances highlight how crypto addresses everyday challenges in underserved economies. For many, digital assets are not about investment diversification; they are about survival.
The US and EU are looking the wrong way
Contrast this with the US and EU, where discussions about digital assets are often dominated by Bitcoin and Ethereum exchange-traded funds, institutional custody, and regulatory disputes.
This perspective misinterprets the global landscape. While such issues may be relevant to major financial markets, they offer little assistance to the unbanked in one area or the remittance sender and gig worker in another.
Check out our full conversation with @staffordmasie & @wheatley_warren from @AfricaBTCcorp @CapitalAltvest following the launch of Africa’s first publicly listed Bitcoin Treasury Company 🇿🇦https://t.co/yLQc6WI9Ia
— Gareth Jenkinson (@gazza_jenks) September 10, 2025
When industry leaders assert that “mainstream adoption” will emerge through vehicles like ETFs, they miss the fact that adoption is already taking place, just not in the areas Wall Street is focusing on.
The next billion users won’t prioritize a spot Ethereum ETF; they will seek fundamental tools for everyday life—like those that enable them to send money home without losing a week’s wages to fees.
Related: Trash collectors in Africa earn crypto to support families with ReFi
This shift holds monumental implications for the market. Projects and exchanges designed primarily for Western markets may inadvertently isolate themselves from one of the fastest-growing user bases worldwide.
While these initiatives vie for a share of a crowded and well-established market, they overlook the regions that deserve more attention. This is where authentic growth and rapid adoption will emerge in the coming years.
The real story of mainstream adoption
This observation does not imply that developed markets will become irrelevant. On the contrary, institutional capital and regulated access will remain vital components of the crypto economy. However, they are unlikely to be at the forefront of the adoption narrative.
The core of this narrative is a taxi driver in Lagos who utilizes stablecoins to hedge against naira depreciation, a small business owner in Buenos Aires protecting himself from soaring inflation, or a worker abroad sending money home without incurring excessive fees from traditional intermediaries.
According to the World Bank, remittances alone were valued at more than $685 billion in 2024.
If transaction costs were to drop by just 1%, billions more could find their way into the hands of those who need it most. This is where crypto comes into play, offering cheaper and faster solutions. Consequently, over a million merchants in places like the Philippines now accept digital currencies as payment through mobile wallet platforms.
This demographic should not be viewed merely as a new group of retail traders; they constitute the actual market. Even regulators in developing countries are responding. Nigeria’s central bank has recently implemented a regulatory sandbox and issued multiple new virtual asset licenses.
This grassroots engagement holds greater potential to transform finance than any highly publicized ETF launches. Still, the industry continues to regard these markets as secondary, despite their crucial role in testing crypto’s foundational goal of financial inclusion.
Stop chasing the wrong market
The best path forward would involve the industry recalibrating its focus. Rather than crafting every product for Wall Street investors, it should establish a robust, user-friendly, mobile-first infrastructure for the rest of the world. This entails prioritizing the creation of affordable remittance routes, seamless fiat on-ramps, and educational resources for communities that see crypto as a lifeline rather than a gamble.
The future of global finance should be shaped not by the giants of traditional finance but by everyday users in emerging economies who have discovered tools for real economic empowerment. Currently, the question is not whether mainstream adoption of digital assets will occur, but which players will recognize where that mainstream truly exists.
The real frontier has never been Wall Street. It always has been, and continues to be, in other parts of the world. To ignore this reality is not just short-sighted; it is reckless. If the crypto industry aims to build a global financial infrastructure, it cannot solely cater to the wealthiest markets.
Platforms that fulfill real-world needs will define the future in countries with the weakest financial systems. This is where crypto is already making a tangible impact.
Opinion by: Maksym Sakharov, group CEO at WeFi.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
