Asian and African countries have gained share in the number of new crypto startups

According to data published by blockchain startup gas pedal Alliance, Europe has overtaken the US and Canada to become the most popular region for launching cryptocurrency startups. It accounted for 31.4% of all new companies in the first half of the year. Asia ranked third with a share of 26.8%.

Africa also saw a rise in startups to 5.2%, slightly lower than Latin America. While Oceania, which mainly includes Australia and New Zealand, saw only 1.8% of the total number of startups in the first half of the year.

Alliance CEO Qiao Wang attributed the published figures to the uncertainty in crypto regulation in the US, which is causing companies to leave for emerging markets.

For example, regulatory difficulties forced crypto service providers Phoenix Wallet and Wasabi Wallet to leave the U.S. market this spring.

Interestingly, according to Alliance, about 39% of startups were launched by a single founder, while the co-founders of 51% of new companies were a team of 2-5 people.

The number of startups founded by large tech companies decreased by about 15% compared to 2021. The number of renowned universities launching their own firms decreased by almost the same amount.

Translated with DeepL.com (free version)