At Foresight 2024 Hong Kong, VALR CMO Ben Caselin explored the evolving patterns of crypto adoption in emerging markets compared to established hubs like Hong Kong.
Ben Caselin, Chief Marketing Officer of VALR, the Pantera-backed cryptocurrency exchange, delivered a keynote speech at Foresight 2024 Hong Kong on August 11th. His presentation focused on the distinct patterns of cryptocurrency adoption in emerging markets.
Caselin highlighted the differences in crypto adoption between regions like Hong Kong and various countries in Africa, Asia, and Latin America. While Hong Kong is recognized as a center for cultural and financial innovation, both historically and in the Web3 era, emerging markets such as El Salvador and South Africa are developing their own crypto hubs.
He outlined three key areas of crypto transformation: cultural, financial, and monetary. Hong Kong is noted for its cultural advancements in Web3, NFTs, and community development, as well as its financial innovations like Bitcoin and Ethereum ETFs. In contrast, emerging markets are seeing a more significant shift in financial and monetary practices.
“These regions are witnessing a rapid shift towards financial participation through crypto,” Caselin explained. “We’re seeing a surge in remittances, payments, and the development of new financial infrastructure to make it easier to hedge against domestic conditions. Moreover, the potential for monetary transformation, including a decoupling from established fiat currencies, is more pronounced in emerging markets.”
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Caselin noted VALR’s role in driving this transformation. “Our platform is facilitating institutional and corporate participation in the crypto economy, enabling access to innovative financial products and services,” he said. “We believe that by providing robust infrastructure and supporting local fintechs, we can accelerate the adoption of digital assets and improve financial well-being for millions of people.”
About VALR
Established in 2018, VALR is a leading global cryptocurrency exchange catering to over 1,000 corporate and institutional clients, as well as nearly 700,000 traders worldwide. Based in Johannesburg, VALR is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa and is approved to operate in Europe. The exchange has also received initial approval from Dubai’s VARA. VALR has raised $55 million in equity funding from notable investors, including Pantera Capital, Coinbase Ventures, and Avon Ventures, affiliated with Fidelity Investments.
