Asians have no faith in crypto or most paper currencies. They put whatever surplus funds they have into personally held gold and silver.It drives their governments crazy because it takes capital out of the economy.Either banks involve themselves in gold and silver or their profits decline. They can’t make high interest loans if people don’t keep their savings as cash on deposit in the bank. Better business for the bank to be a defacto gold and silver broker than being a moribund loan maker.
There are a few of here in the West who feel the same.
Actually, many Asians are very much into crypto as well as gold and silver.