Crypto Adoption in Asia: Stablecoins Drive Regulated Payments and Remittances
Asia accounted for $12.5 trillion in stablecoin transaction volume in 2025, a 67% jump from the prior year, driven by real utility in payments and remittances, not speculation. Singapore exemplifies successful regulation, with 61% of finance-forward citizens holding crypto, thanks to a decade-long regulatory runway including Project Ubin, Payment Services Act, and later Project Guardian and BLOOM. Hong Kong approved spot bitcoin and ether ETFs in 2024 and licensed two stablecoin groups in 2026, led by HSBC and Standard Chartered. India has the largest crypto user base globally (119 million), supporting over $100 billion in annual remittances via the UPI system. Korea sees 33% of adults holding crypto, with exchange volumes reaching 1.76 trillion Won. The next phase focuses on interoperability across jurisdictions, with the upcoming CLARITY Act setting a global benchmark. Advisors should track cross-border stablecoin flows and regional settlement frameworks. Xin Yan, CEO of Sign, notes stablecoins are becoming foundational for payments, and the investment opportunity lies in infrastructure built on programmable money.
Key facts
- Asia stablecoin volume hit $12.5 trillion in 2025, up 67% year-over-year.
- Singapore: 61% of finance-forward citizens hold crypto; Gen Z ownership doubled to 36%.
- Hong Kong approved spot BTC/ETH ETFs in 2024; stablecoin licenses issued to HSBC and Standard Chartered groups in 2026.
- India: 119 million users, $100 billion+ annual remittances via UPI infrastructure.
- Korea: 33% of adults hold crypto; exchange volume reached 1.76 trillion Won in late 2025.