The survey found that the regions agree that digital currency will have a significant impact on society, but the data revealed two major differences between the regions’ support.
Latin Americans are more likely to use cryptocurrency for business transactions, whereas respondents from the Asia Pacific are more likely to purchase virtual items for “emotional benefits.”
According to the report released on Thursday, 74% of Latin Americans are more likely to transact with businesses that accept cryptocurrency, compared to 41% of Europeans. This demand is increasingly being met by businesses in Latin America; according to a separate survey, more than half of Latin American respondents have already paid for goods and services using cryptocurrency.
While Latin Americans were most interested in the economic benefits of cryptocurrency, Asian respondents were more interested in the emotional benefits of virtual assets. According to the report, Asian consumers were up to three times more likely than respondents from other regions to purchase an NFT to commemorate an important moment.
According to Statista data, Hong Kong, Singapore, China, and Taiwan lead the world in overall NFT (non-fungible token) interest, and the Philippines dominated Axie Infinity’s user base during its 2021 bull run. In Latin America, 55% believe cryptocurrency will have a “massive impact” on finance and society, compared to 35% in Europe. According to the study, the Middle East and North Africa are generally falling between bullish Latin America and bearish Europe on crypto sentiment.