Opinion by: Maksym Sakharov, group CEO at WeFi
The crypto industry has fixated on the same markets: the United States and the European Union. Discussions have largely revolved around regulatory clarity, speculative gains, and institutional access, whether through Silicon Valley venture capital or Wall Street’s exchange-traded funds.
This preoccupation, unfortunately, blinds much of the industry to a pressing reality: the future of crypto adoption lies not in New York, London, or Brussels, but in Lagos, Buenos Aires, and Manila.
Cynics, especially those who argue that crypto’s legitimacy hinges on institutional investment and regulatory acceptance in developed markets, might dismiss this statement. However, the numbers tell a different story, consistently overlooked by many.
The latest Chainalysis report on crypto adoption indicates that India has held the No. 1 spot globally for three consecutive years in digital asset usage. Nigeria, Vietnam, and the Philippines are not far behind.
These markets are not motivated by speculation on a new asset class; instead, a fundamental need for financial survival and utility drives them. This is where genuine growth occurs, with the capacity to transform monetary systems.
Where crypto already solves problems
Take Argentina as an example, where annual inflation has historically exceeded triple digits. Here, people convert their pesos into stablecoins not for trading, but to maintain value. They don’t buy Bitcoin to hold; they use dollar-pegged digital assets for groceries and rent payments.
Similarly, in Nigeria, citizens frequently utilize crypto for cross-border trade and remittances, significantly reducing the high fees of traditional money transfer services. According to the Chainalysis report, Sub-Saharan Africa has experienced the highest growth in crypto users globally, with nearly 20% more annually.
These examples showcase that crypto is already resolving everyday issues in underbanked economies. For many, digital assets are not about portfolio hedging; they are about survival.
The US and EU are looking the wrong way
In contrast, the US and EU predominantly discuss Bitcoin and Ethereum exchange-traded funds, institutional custody, and regulatory disputes regarding digital assets.
This perspective misreads the global landscape. While these topics have significance in major financial markets, they do little for the unbanked in one region or for 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 be achieved through vehicles like ETFs, they fail to recognize that adoption has already occurred, albeit outside Wall Street’s purview.
The next billion users won’t be concerned with a spot Ethereum ETF; they will prioritize essential everyday tools that enable them to send money home without losing substantial funds to intermediary fees.
Related: Trash collectors in Africa earn crypto to support families with ReFi
This shift could have far-reaching market implications. Initiatives and exchanges designed solely for Western markets may inadvertently isolate themselves from one of the fastest-growing user bases worldwide.
While these entities vie for a stake in an already competitive and mature market, they overlook the regions that deserve more attention. This is where authentic growth and rapid adoption will unfold in the coming years.
The real story of mainstream adoption
It is essential to clarify that this assertion does not imply developed markets will lose relevance. On the contrary, institutional capital and regulatory frameworks will remain crucial components of the crypto economy, but they will not form the core of the adoption narrative.
The essence lies in a taxi driver in Lagos using stablecoins to counter naira depreciation, or a small shopkeeper in Buenos Aires shielding himself from rampant inflation. Or a worker sending money home from abroad without incurring 7% fees imposed by traditional intermediaries.
The World Bank stated that in 2024, remittances alone totaled over $685 billion.
A mere 1% reduction in transaction costs could provide billions more to the individuals who need it the most. Crypto can facilitate this, as it is generally cheaper and quicker. That’s why over a million merchants in countries like the Philippines now accept digital currencies via mobile wallet-linked platforms.
This demographic should not merely be viewed as a new segment of retail traders; they are the fundamental market. Even regulators in developing nations are moving swiftly. Nigeria’s central bank recently established a regulatory sandbox and issued several new virtual asset licenses.
This grassroots momentum harbors greater potential to redefine finance than the much-discussed ETF launches. Yet, the industry often regards these markets as secondary, despite them being pivotal in testing crypto’s foundational goal of financial inclusion.
Stop chasing the wrong market
The optimal path forward entails the industry reshaping its priorities. Rather than customizing every product for a Wall Street investor, it must develop robust, simple, and mobile-first infrastructure for the global populace. This involves prioritizing the establishment of economical remittance corridors, seamless fiat on-ramps, and educational tools for individuals who see crypto as a lifeline, not a gamble.
The narrative of global finance should be defined not by traditional finance titans but by everyday users in emerging economies who have unearthed a means for true economic empowerment. The pressing question is no longer whether mainstream adoption of digital assets will materialize, but rather which players will have the foresight to recognize where that genuine mainstream exists.
The real frontier was never Wall Street; it has always been everywhere else. Disregarding this reality would not only be shortsighted but also reckless. If the crypto industry aims to construct global financial infrastructure, it cannot craft it solely for the wealthiest markets.
Entities that cater to real-world needs will shape the future in nations with fragile financial systems. This is where crypto’s real efficacy lies.
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.
