China’s Bitmain Makes Plans to Unveil World’s First 1XJ/T Bitcoin Miner

A new report indicates that the global use of cryptocurrency is not only growing but also quickening, with the Asia-Pacific (APAC) region setting the pace. According to the sixth Chainalysis Global Crypto Adoption Index, released on Sept. 2, India has emerged as the new leader in overall adoption across 151 countries. The index analyzes where value is being transferred, how new users are entering the ecosystem, and which areas are experiencing the most rapid expansion.Photo by Naveed Ahmed on UnsplashIndia leads global crypto adoptionIndia now holds the top spot in the overall index, with the U.S. following in second place. The APAC region demonstrates significant momentum, with Pakistan (3rd), Vietnam (4th), Indonesia (7th), and the Philippines (9th) all securing positions in the top ten. Further down, South Korea and Japan are ranked 15th and 19th, respectively.2025 Global Crypto Adoption Index Top 20 Source: ChainalysisThe picture changes when the data is adjusted for per capita GDP, which highlights grassroots movements. By this measure, Ukraine ranks first, followed by Moldova, Georgia, and Jordan. Hong Kong comes in fifth, Vietnam sixth, while Singapore and South Korea rank 16th and 18th, respectively.2025 Global Crypto Adoption Index Top 20 (Pop. adjusted) Source: ChainalysisRegional transactions surge as APAC gains groundOn-chain transaction data confirms a shift in economic gravity. In the year ending June 2025, APAC's transaction value soared by 69% year-over-year, climbing from $1.4 trillion to $2.36 trillion. While Europe ($2.6 trillion) and North America ($2.2 trillion) still handle larger absolute volumes, growth is accelerating nearly everywhere. APAC's growth rate more than doubled from 27% to 69%, while Latin America's rose from 53% to 63%. In terms of capital entering the crypto market via centralized exchanges, the U.S. leads as the largest fiat on-ramp, processing over $4.2 trillion. This is approximately four times the volume of South Korea (over $1 trillion), while the EU recorded just under $500 billion. Asset preferences also show regional variations; Bitcoin accounted for 47% of purchases in the U.K. and 45% in the EU, but just over 20% in South Korea.  India's top ranking aligns with the latest domestic developments, such as the Independence Day launch of the Bitcoin Policy Institute India, which aims to focus on sovereign mining, policy, and education. Legal and security challenges in IndiaHowever, this rapid growth is accompanied by notable legal and security hurdles. In a high-profile case, an Indian anti-corruption court sentenced 14 individuals, including 11 police officers, to life in prison for a 2018 kidnapping and crypto extortion scheme. In another development, creditors of India's crypto exchange WazirX approved a new restructuring plan over a year after a $234 million hack allegedly linked to North Korea’s Lazarus Group. An earlier proposal was rejected by the Singapore High Court in April. The revised plan shifts oversight of recovery tokens—representing outstanding balances—from WazirX’s Singapore entity to Zanmai India, regulated by India’s financial authority, with repayments funded by profits and recovered assets. Some 150,000 creditors, representing $206 million in claims, voted between July 30 and Aug. 6 as WazirX also moved operations to a Panama-based unit called Zensui. Separately, on April 16, India’s Supreme Court dismissed a petition from 54 hack victims, ruling it lacked authority to legislate on crypto policy. While India’s headlines highlight the frictions of rapid growth, the broader picture is clearer. The Chainalysis index illustrates a global crypto market expanding across all income levels for varied reasons. In developed nations, clearer regulations and institutional involvement are key drivers. In many emerging economies, factors like remittances and access to U.S. dollars via stablecoins are more prominent. 

Klasha, a leading global cross-border payment company based in Africa, has officially announced its partnership with Singapore-headquartered FOMO Pay, a digital payment, banking and digital assets solutions provider in the Asian market. Streamlining collections and paymentsIn a press release published on Wednesday, the two companies outlined the nature of the partnership. Through this collaboration, FOMO Pay will optimize collections for its corporate clients by leveraging Klasha’s platform. This synergy enables businesses to receive payments in various local African currencies and methods, with the added flexibility of receiving payouts in their preferred currencies.Photo by George Bakos on UnsplashUnlocking growth opportunitiesThe duo also envision the unlocking of growth opportunities for Asian businesses looking to expand into new markets within Africa. By facilitating seamless cross-border payments, Klasha and FOMO Pay believe that they can help businesses diversify and broaden their customer base. In the joint statement, the management teams of Klasha and FOMO Pay expressed their enthusiasm for the collaboration. Jess Anuna, CEO of Klasha, shared her insights, stating:"With combined efforts, we will continue to enable merchants in Asia to collect payments from the continent more seamlessly through our payment rails and our unique ability to terminate payments in greater Asia." Africa has been undergoing a transformation from the perspective of trade relationships while Asia is emerging as a pivotal trading partner, contributing to over 40% of both exports and imports for the continent. It is with that in mind that Klasha and FOMO Pay have united to introduce a platform aimed at enhancing cross-border payment capabilities for businesses and merchants across Africa and Asia. Crypto credentialsFOMO Pay claims to be Asia’s first licensed gateway connecting fiat currencies and cryptocurrencies. The firm was established in 2015 and is regulated by the Monetary Authority of Singapore (MAS) to conduct cross-border money transfer services, domestic money transfer services, digital payment token services and merchant acquisition services. In 2022 FOMO Pay announced a partnership with enterprise blockchain firm Ripple, which resulted in the fledgling company using Ripple’s On-Demand Liquidity (ODL) offering, a product that revolves around the use of Ripple’s XRP in moving value globally, without the need for correspondent banking relationships. In July of last year, FOMO partnered with crypto compliance and blockchain analytics firm Elliptic. That partnership is aimed at building out a payment ecosystem in Asia that offers seamless interoperability between fiat currency and cryptocurrency. With that same goal in mind, last September FOMO Pay initiated a collaboration with crypto sector decision making specialist, Notabene, who are helping the company optimize in terms of know-your-transaction capabilities. Zack Yang, co-founder of FOMO Pay, emphasized the partnership's significance, stating:"In this era of globalization, the synergy between FOMO Pay and Klasha marks a significant milestone in increasing financial connectivity between Africa and Asia. Our partnership is more than just a business collaboration; it's a commitment to fostering seamless payments and economic growth across continents. This collaboration not only opens up new avenues for African and Asian merchants, facilitating market expansion and easing entry into new territories, but also provides greater opportunity for merchants in those regions to fully benefit from day-to-day use of digital assets in international trade.

Busan BDX Consortium named preferred bidder for Digital Asset ExchangeIn the latest development of Busan’s initiatives in the blockchain industry, the Busan BDX Consortium has been named the preferred bidder for the project aimed at setting up and operating the Busan Digital Asset Exchange (BDX).The South Korean port city of Busan organized a bidding competition for the project, whose application deadline was Nov. 28. This competition saw participation from two companies. Following this, a project proposal evaluation committee was recently assembled to review the presentations of these bidders at the Busan International Finance Center (BIFC).The selection of the Busan BDX Consortium as the preferred bidder was made after an evaluation process where 90% of the assessment criteria were qualitative and the remaining 10% were based on quantitative factors. The consortium is led by Itcen, a Seoul-based tech company that specializes in digital transformation.Photo by Pang Yuhao on UnsplashNegotiations and future stepsBusan City will now promptly enter into negotiations with the consortium, with the goal of finalizing its decision before the end of this year. Following the selection, Busan intends to sign a business agreement with the chosen bidder in January to move forward with the project.BDX is a platform designed to use blockchain technology for the digitization and trading of assets linked to Busan’s infrastructure in logistics, culture and finance. It is planned to be a fully private entity, a decision aimed at fostering freedom and creativity in its operations. Meanwhile, the city will offer administrative and financial support in accordance with its local ordinances.Son Seong-eun, who leads the Finance and Start-up Policy Bureau of Busan City, remarked that the development of BDX is set to establish a solid foundation for the blockchain industry and enhance the region’s economic growth. Aiming to establish Busan as a leading global blockchain hub, the city is committed to providing ongoing support for the new digital exchange, Son added.Blockchain to encourage volunteeringBesides the BDX project, Busan is also leading another blockchain initiative. Starting next year, the city will test a blockchain-based platform designed to manage and track volunteer experience points for its residents.The platform being developed by Busan will facilitate the connection between individuals seeking volunteer assistance and those who participate in volunteer activities. Its goal is to foster a virtuous cycle that contributes positively to society, enhancing the efficiency and impact of volunteer efforts within the community.Citizens will be able to accumulate points on the blockchain platform by participating in socially beneficial activities like distributing staple goods and contributing to carbon emission reduction. These points can then be redeemed for various benefits like attending concerts or accessing public parking lots. This endeavor to encourage volunteering is set for a full-scale launch in 2025.