Ben Caselin from VALR Discusses Distinct Crypto Adoption Trends in Emerging Markets

Singapore, Singapore, August 13, 2024 – Chainwire

Ben Caselin, the Chief Marketing Officer of VALR, a crypto exchange backed by Pantera, delivered a keynote address at the Foresight 2024 Conference in Hong Kong on Sunday, August 11, where he explored the unique patterns of cryptocurrency adoption observed in emerging markets. VALR His talk highlighted the stark contrasts in crypto adoption between regions like Hong Kong and various nations across Africa, Asia, and Latin America.

While Hong Kong has firmly established itself as a center for cultural and financial innovation, particularly in the context of Web3, emerging markets like El Salvador and South Africa are carving out their own crypto hubs.

Caselin discussed three core areas driving crypto evolution: cultural, financial, and monetary dimensions. He pointed out that Hong Kong leads in cultural transformation, which is evident through developments in Web3, NFTs, and community initiatives, alongside proactive financial strategies like the introduction of Bitcoin and Ethereum ETFs. In contrast, emerging markets are currently experiencing a more significant shift in financial structures and monetary systems.

"There's a notable change in how people engage with finance using cryptocurrency in these regions,\" Caselin said. \"We're witnessing a dramatic increase in remittance flows, payment systems, and the establishment of new financial frameworks that help individuals protect themselves against local economic challenges. The prospect for monetary change, such as creating alternatives to traditional fiat currencies, is notably more urgent in these emerging areas.\"

Caselin emphasized the role of VALR in this transformation. \"Our platform is paving the way for institutional and corporate involvement in the crypto space, allowing access to innovative financial products and services,\" he stated. \"By building a strong infrastructure and aiding local fintechs, we aim to speed up the adoption of digital assets and enhance the financial security of millions.\"

Established in 2018, VALR is a prominent global cryptocurrency exchange catering to over 1,000 corporate and institutional clients, along with nearly 700,000 individual traders globally. Located in Johannesburg, VALR is authorized by the Financial Sector Conduct Authority (FSCA) in South Africa, is cleared to operate in Europe, and has received initial endorsement from Dubai’s VARA. The exchange raised $55 million in equity funding from notable investors, including Pantera Capital, Coinbase Ventures, and Avon Ventures, which is associated with Fidelity Investments’ parent organization. For more details, visit: valr.com.

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