A report by IOSG highlights that consumer crypto adoption is thriving in emerging markets, contrary to mainstream perceptions. Regions such as the Philippines, Africa, Argentina, and Vietnam have seen stablecoin wallets, payment cards, and P2P networks reach millions of users. The report suggests that the key opportunity in consumer crypto lies not in further decentralization, but in integrating compliant front-end solutions with crypto back-end systems, known as the DeFi Mullet model. This approach is particularly promising for cross-border payments, freelancer transactions, and financial infrastructure in emerging markets.