- Recap ranked London with the greatest crypto-readiness to attract firms and startups.
- The indicators include crypto-related jobs, BTC ATM count, and crypto ownership.
- Only one African city, Lagos, appeared in the ranking of the top 20.
The world’s most private crypto tracker, Recap, recently published a list of the top 50 major cities with infrastructures to experience mass adoption of cryptocurrencies. Based on eight data points, London has the greatest crypto-readiness to attract firms and startups.
The eight indicators include crypto-specific events, people working in crypto-related jobs, crypto companies, the number of crypto ATMs, and crypto ownership in each country. While London outranked famous municipalities such as Dubai, Singapore, and New York City, only one African city, Lagos, appeared in the ranking of the top 20.
Lagos, a city in Nigeria, the most populous country in Africa, has 779 people working in crypto-related jobs and 112 crypto firms. On the other hand, London has 2,173 people working in crypto-based employment, representing the highest number of people working in the Web3 industry compared to anywhere else.
Dubai, the leading center for crypto and blockchain technology in the Middle East, comes second on the list. According to a recent survey, two-thirds of adults in the United Arab Emirates are interested in crypto. Recap data also suggest that Dubai is attractive to crypto investors due to its 0% tax rate.
New York City came third with 843 crypto startups and over 1,400 crypto-related employment. The city features a weekly event, CryptoMondays, to allow crypto enthusiasts to network and find jobs in the city.
Interestingly, no El Salvadorian city featured among even the top 30 crypto-ready cities despite Bitcoin being a legal tender in the country since 2021.