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Asia leapfrogging the West in onchain retail
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Asia leapfrogging the West in onchain retail
Asia leapfrogging the West in onchain retail use as regional hubs lead on stablecoin rules
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Asia leapfrogging the West in onchain retail use as regional hubs lead on stablecoin rules
Experts at Consensus Hong Kong said regional focus on user utility and stablecoin regulation is driving adoption.
By Stephen Alpher, AI Boost
Feb 12, 2026, 3:00 p.m.
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The Unseen Playbook panel at Consensus Hong Kong (CoinDesk)
What to know:
- Diverse regional strategies across Asia are driving real-world utility through digital payments and enterprise projects.
- Regulatory clarity in Hong Kong and the United Arab Emirates positioned these hubs as global leaders in trade.
- Stablecoins are solving fragmented payment rails and high currency risk for small businesses in emerging markets.
Hong Kong — Asia is outpacing Western markets in the adoption of onchain financial services, driven by a focus on user utility and proactive regulation. While the West remains focused on institutional asset management, Asian markets are prioritizing high-frequency retail applications and cross-border trade.
During a panel discussion at Consensus Hong Kong, industry leaders highlighted how different regional dynamics shape blockchain growth. Suhan Zhao, head of APAC at Aptos Labs, noted a distinct shift toward real-world use cases. "In Asia, there is a high adoption of digital payment, and also there's a high willingness to deploy new technology at scale," Zhao said. She pointed to South Korea’s Lotte Group, which issued over 5 million mobile service vouchers on the Aptos network, reaching 1.3 million users in under three months.
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Regulatory progress is a primary engine of this growth. Niki Ariyasinghe, vice president for Asia Pacific and Middle East at Chainlink Labs, identified Hong Kong and the United Arab Emirates as the most advanced markets for stablecoin regulation. He argued that stablecoin adoption in Asia often stems from a fundamental need for efficiency rather than speculation. "Ultimately, it’s a willingness to use a new form of payment because of the value it delivers. Ultimately, it’s cheaper, it’s quicker, or it’s more convenient at the end of the day," Ariyasinghe said.
Small businesses engaged in international trade represent a key demographic for these digital assets. These firms use stablecoins to bypass a fragmented traditional payment infrastructure that often takes days to settle. Nick See Tong, APAC regional lead for Base, emphasized that local stablecoins remain essential for mass market penetration. "A merchant selling wonton mee on the side is not going to accept USDT, USDC or any USD stablecoin. They want Hong Kong dollars," See Tong said.
Consensus Hong Kong 2026
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
Crypto industry experts at Consensus see Asian institutions pivot toward stablecoins
Panelists at the conference discussed how regulatory progress in Hong Kong and Japan creates a structured path for capital allocation.
What to know:
- Institutional crypto transactions in Asia grew 70% year over year to reach $2.3 trillion by mid-2025.
- Regulatory clarity in hubs such as Hong Kong and Singapore has driven a shift from speculation to structured yield.
- Major banks in Japan now develop stablecoin solutions to build regulated rails for traditional capital.
Read full story
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