Crypto adoption in Hong Kong lags at 24% despite rising optimism

Trust remains a challenge with 33% of non-users citing security concerns.

Half of respondents in Hong Kong believe crypto will play a key role in the future of finance, reflecting broader regional optimism, CoinDesk said in a report.

Despite this optimism, Hong Kong’s crypto adoption rate remains at 24%, placing it in the mid-tier adoption category, CoinDesk noted. This is compared to emerging markets such as Thailand with 43% and India with 32%.

Trust remains a challenge with 33% of non-users citing security concerns such as hacking and fraud as barriers to adoption.

Whilst Hong Kong has regulatory frameworks in place, these persistent concerns continue to discourage broader participation.

Institutional developments are emerging as a key driver for positive sentiment. Initiatives from the Securities and Futures Commission and the Hong Kong Monetary Authority are fostering confidence among institutions, creating opportunities for mainstream adoption in the city.

CoinDesk said the education gap in Hong Kong’s crypto landscape is another critical factor. While awareness of cryptocurrencies is high, understanding of their practical applications remains limited.