As cryptocurrency adoption surges across the Asia-Pacific region, new data from blockchain analytics firm Chainalysis shows the region emerging as a global growth engine for digital assets, and possibly, the next frontier for blockchain-based gaming innovation.
From July 2022 to June 2025, on-chain transaction values in APAC tripled from around $81 billion to a peak of $244 billion in December 2024. Even after that high point, monthly activity remains strong at about $185 billion through mid-2025, according to the firm’s 2025 Geography of Cryptocurrency Report.
While the figures capture a broad economic transformation, industry leaders believe the same forces reshaping finance are already influencing iGaming. In this sector, instant payments, transparency, and fairness are becoming central expectations.
Speaking exclusively with SiGMA World, Renz Chong, CEO of Virtual One, said the growing use of blockchain and stablecoins is driving a clear behavioural shift across gaming communities in markets like Japan, South Korea, and India.
“As crypto adoption accelerates across APAC, we’re seeing a clear behavioural shift among players especially in markets like Japan, South Korea, and India, which are each charting unique regulatory paths,” Chong said. “The use of stablecoins is fundamentally changing expectations around payments: what used to be considered a ‘bonus feature,’ like instant withdrawals, is quickly becoming the norm. On- and off-ramping is faster and cheaper, and players are starting to expect that same frictionless experience across all games and platforms.”
(Source: Chainalysis)
Chong said these expectations are redefining accountability for gaming operators, as blockchain infrastructure makes transactions permanently visible and auditable.
“For operators, this also means higher accountability,” he said. “With transactions happening on-chain, every payout or deposit carries its own proof, enabling instant validation if disputes ever arise. The permanence of these records reduces dependency on a single payment processor or centralised ledger offering resilience and transparency by design.”
Chainalysis data shows that APAC’s crypto growth is far from uniform. Each major market, from India to Japan, follows a distinct pathway shaped by local conditions.
India, the region’s largest market by on-chain value at $338 billion, continues to lead globally in grassroots adoption, driven by remittances, fintech integration, and a young, digitally fluent population. The Philippines, Pakistan, and Vietnam share similar dynamics where crypto bridges structural gaps in traditional finance.
(Source: Chainalysis)
South Korea, meanwhile, treats crypto almost like equities which are liquid, speculative, and mainstream. New rules such as the 2024 Virtual Asset User Protection Act have reshaped trading behaviour, while stablecoin usage is soaring. KRW-denominated stablecoins reached $59 billion in the 12 months to June 2025, far outpacing regional peers.
In Japan, Chainalysis recorded the strongest growth among top markets, a 120 percent increase in value received year-on-year. Policy reforms, including the licensing of the first yen-backed stablecoin issuer and updates to crypto taxation, have created clearer guardrails for adoption. XRP, BTC, and ETH dominate Japanese trading, with XRP alone accounting for $21.7 billion in JPY-denominated activity.
Chong said the pace of adoption still depends heavily on regulatory clarity, which explains why growth differs so widely between Japan, South Korea, and India.
“In Japan, where stablecoin frameworks and compliance structures are well defined, we’re seeing mainstream comfort with digital assets seep naturally into gaming,” he said. “In contrast, markets like India, where taxation and policy remain ambiguous, show slower uptake and more caution. But directionally, the region’s trajectory is clear: players are aligning around ecosystems that are faster, cheaper, and verifiable.”
According to the Chainalysis’ data, Japan’s 120 percent growth rate comes after years of relatively subdued performance, while India’s 99 percent year-on-year increase represents momentum from an already high baseline. Vietnam’s more moderate 55 percent growth suggests a maturing market where crypto is already embedded in remittances and daily finance.
Beyond payments, Chong said the intersection of Web3, gaming, and decentralised finance (DeFi) is creating new opportunities to rethink how fairness and trust are defined in iGaming.
“The convergence of Web3, gaming, and DeFi across APAC is creating a rare window for real innovation in iGaming especially around transparency, instant settlement, and player trust,” he emphasised. “One of the biggest opportunities ahead is the use of stablecoins for sub-minute withdrawals. Instant, auditable payouts on-chain fundamentally reframe the relationship between player and platform.”
He explained that blockchain’s ability to record outcomes immutably and publicly extends beyond payments to random number generation (RNG) — the core of how fairness is measured in digital games.
“Beyond payments, the same logic applies to game fairness and RNG (random number generation). Blockchain infrastructure makes it possible to verify randomness and results publicly, rather than asking players to take a platform’s word for it or rely on a regulated house,” he said. “Full transparency in RNG allows players to audit every outcome, shifting trust from institutional assurances to cryptographic proof — trust built on math, not marketing.”
(Source: Chainalysis)
According to Chong, blockchain technology also opens the door to more dynamic and transparent player rewards systems. “Lower transaction costs and programmable smart contracts also mean more liquidity circulating in the ecosystem and real-time loyalty rewards that players can verify and trade.”
“Every action, from placing a bet to claiming a bonus, can be immutably recorded, auditable, and interoperable across games and regions, which now becomes actionable especially in translating to perks and benefits for players,” he added.
The Chainalysis data revealed that APAC is now one of the most dynamic regions in global crypto adoption, often surpassing North America in monthly volumes. The report noted that the region’s distinct national pathways reflect crypto’s adaptability to diverse economic and cultural contexts.
As Chong put it, the convergence of blockchain, finance, and entertainment marks a turning point not just for gamers but for digital economies as a whole. The technologies powering transparency in payments, RNG, and loyalty systems are laying the groundwork for a more accountable, verifiable, and inclusive ecosystem, one that could redefine how trust itself operates online.
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