Cryptocurrency has found a way to permeate global markets, especially in those areas that it is frowned at by the government. An example is Peer-to-Peer platforms taking root in Nigeria, a country that has placed a bank ban on cryptocurrency.
South and Central Asia have noticed a surge in crypto transactions in the past few days. Residents of these regions are seeing the reason to become involved in cryptocurrencies.
The result of the studies done by Chainalysis, a reputable blockchain analytics organization, showed that South and Central Asia, as well as Oceania, have noticed a 706% surge in crypto transactions. These regions include countries like the second most populous country- India.
From the studies, it was noticed that a large percent of the surge is linked to institutional and large payments. This means that many institutions are adopting cryptocurrency and using it as a means of payment. The highest result came from India, a country that boasted over $10 million in institutional transfers.
