Maria Irene
Kennelly began his thread by confirming that Asia has indeed lived up to its reputation as a dynamic and essential hub in the crypto ecosystem. He emphasized that the continent will continue to drive crypto growth for the foreseeable future, making it clear that his company, Volmex Finance, is planning to devote more time and resources to Asia.
This strategic focus on Asia comes as no surprise. Kennelly pointed out that the majority of global crypto trading activity occurs in Asia—a trend that’s accelerating because of unclear crypto regulations in the West. The regulatory ambiguity in Western countries like the U.S. has effectively shifted traders’ and investors’ focus towards Asia, where regulatory environments are more predictable and business-friendly.
Kennelly also highlighted Singapore’s role as a rising star in the institutional crypto landscape. Known as the finance capital of Asia, Singapore’s institutional crypto scene is “vibrant and growing,” according to Kennelly. This momentum aligns perfectly with the city-state’s reputation, making it an imperative destination for serious crypto ventures.
Not to be overlooked, Kennelly also mentioned the significance of the Korean retail market. He emphasized that it’s “extremely important” for crypto exchanges and products to establish a presence in Korea. The country’s active retail market offers an invaluable source of trading volume and liquidity, a key component for any growing crypto platform.
In stark contrast to the ongoing debates and uncertainty surrounding crypto regulations in the U.S., Kennelly observed that Asia takes a much clearer stance. The absence of regulatory “hemming and hawing,” as he puts it, allows for crypto companies to plan, develop, and operate with much greater efficiency in Asia.
Kennelly closed his thread by stressing the importance for crypto companies to invest in Asia. In his own words, “It is critical that crypto projects/companies spend time and invest in Asia.” Given the weight of his observations, it seems inevitable that the focus of the crypto narrative will continue to shift towards Asia and its adjacent regions. This perspective is further supported by TOKEN2049’s decision to host its next event in Dubai on 18-19 April 2024, suggesting that the conference organizers are also keen on exploring markets outside the Western hemisphere.
Kennelly’s commentary makes it abundantly clear: whether it’s for trading, institutional investment, or regulatory clarity, Asia is not merely an optional market for crypto businesses—it’s becoming the core of the crypto universe.
