Southeast Asian financial institutions turn to the Ethereum

Blockchain innovation is surging throughout Southeast Asia, as the region is home to a number of fintech firms and global crypto companies. In particular, Singapore has become one of the world’s most crypto-friendly countries. This was recently highlighted in a report conducted by crypto exchange Gemini, which found that 67% of 4,348 respondents currently own crypto. The report further noted that Ether (ETH) is the most popular cryptocurrency in the region, with 78% of surveyors claiming to own the digital asset.

Interestingly enough, the blockchain may also be the network of choice for financial institutions based in Southeast Asia. Charles d’Haussy, Asia managing director at blockchain firm ConsenSys, told Cointelegraph that companies in the region looking to empower e-commerce cross-border payments favor Ethereum for a number of reasons:

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