According to research from Recap which examined eight factors, London is the world’s most “crypto-ready” city for businesses and start-ups. London scored the highest when adding up the values in the eight indicators; quality of social life, crypto-based events, people working in crypto-based jobs, crypto-based companies, R&D spend as a percentage of GDP, number of crypto ATMs, capital gains tax rate and ownership of crypto in each country.

Tagging on the tail of London is Dubai of the United Arab Emirates (UAE), followed by New York City in the United States (USA) and Singapore in third place. According to the data found by Recap, London has the most number of people working in crypto-focused jobs, yet other crypto hubs surpass London in other metrics.

The United Kingdom witnessed a 35% plummet in cash & coin payments in 2020, which clearly indicates the nation’s readiness to adopt crypto into its infrastructure and digital payments system. This comes in-line with Prime Minster Rishi Sunak’s vision to “ensure the UK financial services industry is always at the forefront of technology and innovation”.

Top 50 Crypto Hubs

Source: Recap

Sources:

https://cointelegraph.com/news/london-emerges-as-world-s-most-crypto-ready-city-for-business-research

https://www.investing.com/news/cryptocurrency-news/london-emerges-as-worlds-most-cryptoready-city-for-business--research-2995479

https://recap.io/blog/the-rise-of-crypto-hubs-which-cities-are-leading-the-way-in-cryptocurrency