How Oceania Is Impacting The Global Crypto Market

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Analysts like to break down the economic impact of cryptocurrency on a continent-by-continent basis. While some disagree with this approach, given the sheer size, cultural differences, and general crypto adoption, focusing on broader trends in specific regions can sometimes provide key insights into the economic outlook and attitude in those respective areas. Oceania includes over a dozen countries, but the vast majority of the cryptocurrency market is located in Australia and New Zealand—which is where our focus lies today.

Oceania crypto trends follow the broader global landscape. Given the continent’s relatively small size and small collective population, it very much follows the market rather than setting trends. However, that’s not to say that there still isn’t a huge investment and enthusiasm for blockchain technology and cryptocurrency in general in both Australia and New Zealand.

Australia is the titan of the continent, a colossal country with a significant economy and a robust, diverse approach to cryptocurrency investing, trading, and blockchain technology. Unlike some top global economies, Australia embraces other types of blockchain innovations, most notably cryptocurrency casinos.

There are many top brands Down Under, and given that Australia is one of the most prolific gambling nations on Earth per head of population, playing at a live casino in Australia opens up avenues for gamers looking to gamble with Bitcoin and other cryptocurrencies and experience how the blockchain is implemented into practical uses, such as casino gaming, which millions of Aussies partake in every year already.

Providing a product that meets them halfway and highlights the benefits and convenience that can come with crypto casinos is helping to drive up the number of people interested in these assets, and while it might not be having the most profound impact on the global community, it’s slowly helping more people come to grips with the technology and the asset.

In relative terms, Oceania has a minor impact on the global crypto sector compared to other continents. With less than 45 million people combined, and over half of that number not using, trading, or holding cryptocurrency, it doesn’t quite have the same weight as the tens of millions of active crypto traders in Asia, Europe, and, more recently, South America.

Australia is one of the top 12 countries in the world in GDP, and its forward-thinking approach to crypto, as well as a modern and clear framework for companies setting up within the country, helps to strengthen it as a global player in the crypto industry. ANZ, which is the biggest bank in Oceania, was one of the first in the world to mint its own stablecoin – and while some banks aren’t as keen when it comes to allowing the flow of cryptocurrency assets, especially to certain exchanges, the same can be said for many other countries.

These decisions often involve specific institutions, but as long as they retain this approach, allowing cryptocurrency and blockchain technology companies to grow, Oceania will still have a role to play as cryptocurrency continues to become more prevalent in the global financial landscape.

Although the industry’s future will revolve mostly around activity in the US and Asia, that’s not to say that Oceania will not contribute to the global picture. Australia, in particular, is one of the market leaders in blockchain innovation. EB Pearls, Blockchain Australia, and generative AI and blockchain provider OpenXCell are some of the top pioneers in Oceania.

It’s no surprise that it currently ranks third in global blockchain innovation as it offers fertile ground for companies looking to launch their crypto projects in Oceania. Investment in the technology is set to increase sevenfold from 2020 to the end of 2025. Coinbase, the world’s largest and most successful crypto exchange, is also looking to enter the Australian pensions market, which again brings visibility and heightened possibility of investment within Australia and from companies across Oceania.

While Kiwis make up a smaller portion of this, they also benefit from a similar, beneficial framework that is favorable and allows companies to set up in New Zealand. The number of Kiwis investing in cryptocurrency is between 10 and 15%, but this number will grow over the next decade. It may not make much of an impact on a global stage. Still, growing adoption from multiple wealthy countries will likely bolster the overall health of blockchain companies and the underlying industry.

For its relative size, Oceania packs a punch. Australia is on course to become one of the global market leaders in cryptocurrency and blockchain innovation. Although it’s very much on its own in this regard, Oceania’s impact on the global crypto scene is something to pay attention to.

If some of the companies operating out of Australia can begin to make a name for themselves on the global scene and launch in other prominent nations, then this influence could continue growing.

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Source link : https://www.crypto-news-flash.com/how-oceania-is-impacting-the-global-crypto-market/?amp=1 Author : Publish date : 2024-06-15 10:51:53 Copyright for syndicated content belongs to the linked Source .

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How Oceania Is Impacting The Global Crypto Market

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