Use of crypto in emerging markets is driven by necessity: head of KuCoin Labs

Key differences in the use and development of cryptocurrencies are highlighted as Blockchain Economy Istanbul continues to focus on emerging markets.

The proliferation of cryptocurrencies around the world has been driven by different use cases, with key differences becoming apparent between developed and emerging market environments.

Lou Yu, who runs KuCoin Labs, touched on the topic after a keynote speech during the second day of Blockchain Economy Istanbul in Turkey. In an exclusive interview with Cointelegraph, Yu opened up about his experience working with a variety of projects and companies around the world and the key differences between primary and secondary markets.

Editor Cointelegraph Erhan Karahman interviews Lou Yu, head of KuCoin Labs, at Blockchain Economy Istanbul.

Kucoin operates in over 200 countries worldwide and is well positioned to provide insight into trading habits and trends as well as innovations in the space, given that it lists, invests in and supports various projects focused on cryptocurrency and blockchain.

Yu noted that trading communities are particularly active in emerging markets, more so than their developed counterparts, which are less active despite having greater capital. Although these emerging markets frequently use cryptocurrencies, projects in these regions could better target their services to local markets:

"We see all the secondary market data here and believe it is more relevant for local projects to benefit the local economy, not just bring products to the United States to benefit traders there for example."

The potential of Bitcoin and cryptocurrencies to address unique challenges in emerging markets was a theme at Blockchain Economy Istanbul and Yu also believes that industry-shaping projects may well emerge from developing countries.< /p>

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