Asia’s Wild West nature spurs its fintech surge—but Binance’s CEO thinks Western companies will still have an ‘outsized say’ in the financial system

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Asia’s Wild West nature spurs its fintech surge—but Binance’s CEO thinks Western companies will still have an ‘outsized say’ in the financial system - Fortune

Quick Summary:

Regulators in Asia are slower and more risk-averse than their Western counterparts when it comes to establishing new regulations, he explained.

Consumers in economies with volatile currencies are particularly interested in these new payment methods.“In quite a lot of these markets, there’s a lot of regulation [of] the ability to actually hold U.S.dollars,” she said.

Asia-Pacific users spent $9.8 trillion through digital wallets in 2023, making up two-thirds of all such spending, according to a Deloitte report released earlier this year.