A recent study has scrutinized and ranked 50 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.

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.

• 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.

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

• 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.