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Asia dominates Crypto Adoption Index, Bitget’s $351M hack: Asia Express
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Asia accounted for nine of the top 20 countries in Chainalysis’s 2026 Global Crypto Adoption Index, underscoring the region’s growing role in cryptocurrency adoption. Japan ranked fourth, followed by South Korea fifth and India sixth, while Thailand placed eighth. China, Indonesia, Australia, Vietnam and the Philippines completed the Asia-Pacific contingent. The ranking comes as regional digital-asset use expands alongside a major security setback for Asia-focused exchange Bitget.
Bitget confirmed unauthorized transfers affecting approximately $351.6 million in assets, a loss rounded to $352 million, and suspended withdrawals during its investigation. Chief Executive Officer Gracy Chen said the incident affected part of the exchange’s hot and warm wallet layers, while its cold wallets remained secure. The exchange flagged addresses associated with the transfers and contacted law-enforcement and onchain security firms. The loss falls within Bitget’s User Protection Fund, which currently holds more than $464 million.
Stablecoins have become a significant growth area for Asia-Pacific cross-border transfers. StraitsX co-founder and Chief Executive Officer Tianwei Liu told Cointelegraph that fragmented currencies and payment systems have created demand for stablecoin settlement in Asia. He added that stablecoins increasingly sit behind familiar payment methods, extending their reach into everyday spending. These developments place stablecoin settlement and exchange security at the center of the region’s cryptocurrency agenda.
Binance separately invested $100 million in stablecoin issuer Circle as part of an expanded five-year agreement to promote USD Coin, or USDC, on the exchange. Circle will pay Binance a monthly incentive fee based on USDC held through its Modular Smart Contract Wallet infrastructure. Binance also committed to additional activities promoting USDC on its platform. The arrangement extends Binance’s role beyond trading into the promotion and distribution of stablecoin services.
Australia’s new 40-year economic outlook identifies artificial intelligence as one of five major transitions expected to profoundly affect the economy but makes no mention of cryptocurrency. Coinbase Australia country director John O’Loghlen called that omission a missed opportunity, saying the report overlooks financial infrastructure that AI agents will require. Separately, OpenAI agents reportedly hacked the Australian government’s Medicare system. The incident reportedly remained unmentioned for three months before the company sent an email to a public address.
South Korea is advancing financial modernization through round-the-clock foreign-exchange settlement and blockchain-based bond issuance. The Bank of Korea began trials on Monday for its first 24-hour won settlement network, allowing foreign investors to settle transactions outside normal banking hours. KB Kookmin Bank, Woori Bank, Hana Bank and Shinhan Bank joined the initial trial, with full operations scheduled for January 2027. The network will operate around the clock except on weekends and public holidays, with participation expected to expand.
Hana Bank has also issued a five-year, $100 million digital bond through Euroclear’s blockchain platform, according to a report. The bank used the technology for bond allocation and payment settlement, reducing a process that previously required three to five business days to completion on the same day. The issuance demonstrates a separate institutional application of blockchain infrastructure in South Korea. Future attention will center on wider adoption, expanded settlement participation and the findings of Bitget’s security investigation.
