As we step into 2024, the global crypto space is witnessing a transformative era, with certain cities taking center stage as pioneers in technology, regulation, and public enthusiasm for digital finance.
A recent study has scrutinized and ranked cities based on seven metrics, presenting a comprehensive view of their readiness for the cryptocurrency revolution.
Each city’s crypto readiness reflects a unique interplay of financial strength, regulatory frameworks, and technological landscapes.
REPORT | CRYPTO-READY CITIES OF 2024
* New York stands out as most crypto-ready city with a total score of 85.85/100 #NYC
* 1810 ATMs Los Angeles is the city with the most crypto ATMs in the world. #LA
* Cape-Town, Pretoria, Johannesburg, and Durban are the ONLY African… pic.twitter.com/VkmBPegYjs
— BitKE (@BitcoinKE) January 14, 2024
- New York leads the global crypto frontier with a score of 85.85/100, leveraging its status as a financial powerhouse and the regulatory support provided by the NYDFS.
- London follows closely behind at 84.15/100, with its supportive regulatory framework and thriving tech scene.
- Singapore emerges as Asia’s crypto leader with a robust score of 71.44/100, driven by a strategic blend of regulations and support for innovation from the Monetary Authority of Singapore (MAS).
- In contrast, Tokyo, despite its technological prowess, ranks as the least crypto-ready among the top 50 cities, scoring 52.84/100, due to cautious regulatory attitudes.
Top 10 Countries for Crypto Readiness
From Africa, there were 4 cities, all from South Africa.
Below are the cities with select performance metrics, and their position in brackets.
Cape Town (11)
Crypto Readiness Score: 60.45
- Crypto Ownership: Ranking 11th globally, Cape Town demonstrates a growing interest with a score of 47.36 in crypto ownership.
- Employment Opportunities: Abundant job opportunities in the crypto sector, scoring 88.21, contribute to Cape Town’s crypto-ready status.
- Crypto Events: Hosting a moderate number of crypto events (20.97), Cape Town balances innovation with a solid regulatory foundation (100.00).
- Legal Readiness: Cape Town’s ability to balance innovation with regulatory strength makes it a standout crypto-ready city.
Johannesburg (15)
Crypto Readiness Score: 57.83
- Crypto Ownership: Johannesburg, ranking 15th globally, boasts a strong crypto ownership score of 23.43, showcasing a vibrant community of crypto enthusiasts.
- Employment Opportunities: With a robust job market in the crypto sector (93.64), Johannesburg positions itself as a hub for crypto-related employment.
- Legal Framework: Johannesburg’s perfect score of 100.00 in the legal environment underscores its supportive regulatory landscape for cryptocurrencies.
- Business Acceptance: Despite moderate business acceptance (6.06), Johannesburg’s collective strengths position it as one of the most crypto-ready cities globally.
Pretoria (25)
Crypto Readiness Score: 56.58
- Crypto Ownership: Pretoria, positioned 25th globally, demonstrates a growing interest with a score of 52.15 in crypto ownership.
- Employment Opportunities: A robust job sector in crypto, scoring 80.37, contributes to Pretoria’s crypto-ready landscape.
- Legal Readiness: An impressive score of 100.00 in legal readiness underscores Pretoria’s supportive regulatory environment.
- Business Acceptance: With steady growth in business acceptance (6.06), Pretoria positions itself as a city with substantial potential.
Durban (43)
Crypto Readiness Score: 53.97
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- Crypto Ownership: Durban, positioned 43rd globally, is on the rise with a score of 17.15 for crypto ownership.
- Employment Opportunities: Robust job opportunities, scoring 93.64, contribute to Durban’s potential in the crypto space.
- Legal Environment: Durban boasts a perfect score of 100.00 in a supportive legal environment.
- Business Acceptance: In the early stages, with a score of 0.00 for crypto acceptance, Durban holds promise for future growth in the digital finance landscape.
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