• TechFlow’s report shows a shift in the geographic focus of the crypto industry towards China.
• Despite Chinese regulations, global crypto projects have started to consider the potential of the Chinese market more seriously.
• Global crypto projects are targeting regions with significant Chinese-speaking populations such as Hong Kong, Taiwan, Singapore, and Malaysia.
Crypto’s Big Shift Towards China: TechFlow Report
Growing Interest in Crypto Projects for China
TechFlow report indicates a growing interest in crypto projects for China due toChina’s regulations prompting a shift from local to international platforms for Chinese-speaking users and influencers. The report emphasizes the importance of understanding China in crypto marketing.
Changing Attitude towards the Chinese Market
More than a year after the Chinese crackdown on crypto,the industry is returning to mainland China and many global crypto projects have started considering the potential of the Chinese market more seriously due to Hong Kong developing a more crypto-friendly regulatory framework. Funds like HashKey Capital, Fenbushi, SNZ Holding, and Animoca Brands are some venture funds with Chinese founders that benefit most from this change in attitude thanks to size of the Chinese market dominating the Asian-Pacific crypto scene but they are not consolidated so consequently don’t have as much influence as they otherwise would have.
Targeting Non-Mainland Regions
China is not only country that crypto firms target; offshore regions such as North America and Europe also have large number ofChinese-speakingcryptousersand there areregionswith significantspeaking populationssuch asHongKong,TaiwanSingaporeandMalaysia whichdemonstratestrongpurchasingpoweranddevelopers making them attractivefor various Layer1 ecosystems.
The report by TechFlow highlights how despiteChinese regulationscryptoindustryis returningto mainland Chinamany globalcryptoprojectshave startedconsideringthepotentialofChinese marketmoreseriouslydue toHongKongdevelopingamorecrypto-friendlyregulatoryframework; these fundsdominatetheAsian-Pacific cryptoscenethanks tothesizeoftheChinesemarket howevertheyarenotconsolidatedsotheyhavelessinfluencethantheyotherwisewouldhave; beyondmainland ChinacryptofirmsaretargetingnonmainlandregionsthatsignificantChinese speakingpopulationssuchasHongKongTaiwanSingaporeandMalaysiawhichhavepurchasingpowerandsignificantnumberofdevelopersmakingthemattractiveforLayer1ecosystems.