Binance’s Changpeng Zhao describes the Philippines as “one of the most active crypto communities in Asia” and it’s the perfect way to sum up the country’s blend of high adoption amid relatively low affluence. With GDP spending power of less than $10,000 per head each year, this nation of 7,100 islands is far from a major contributor to worldwide exchange volumes. But in terms of day to day use and enthusiasm, a significant proportion of Filipinos appear to be leapfrogging directly from a cash-based economy to the future of fintech. The country boasts 17 licensed digital currency exchanges, and tens of thousands of pawn shops and convenience stores happily accept cash deposits and withdrawals for various crypto exchanges and apps. You can buy Bitcoin with cash at any of the 3,000 7/Elevens in the land via Abra, and one in seven adults use the blockchain-based crypto and digital payments app Coins.ph. That’s a level of market penetration comparable to some of the most well-known payments apps in the world.