Blockchain technology is expanding across Asia, and the conversation is increasingly shifting away from speculation and toward practical financial applications. While cryptocurrency trading remains a major part of the industry, many developers, regulators and financial institutions are now focusing on how blockchain can improve payments, remittances, lending and other core financial services.
Speaking at AIBC Asia 2026, Nelson Tung Lumbres, Country Lead for Stellar, said the industry’s future will depend less on chasing investment and more on solving real-world problems.
For years, blockchain startups have attracted attention through funding rounds, token launches and market hype. However, according to Lumbres, many projects struggle because they focus on raising capital rather than building sustainable businesses.
“We’ve come to a time where many builders are simply looking for investments and funding,” he said. “At the end of the day, they’re looking to get funded, and I think that’s the wrong approach.”
Instead, he believes developers need to adopt a longer-term mindset, particularly in sectors such as cross-border payments and remittances where regulatory compliance is just as important as technology.
“If you really want to make a change, you have to think like an entrepreneur,” he said. “You need that entrepreneurial mindset.”
The comments come as Asia’s blockchain landscape enters a new phase. Institutional investors now account for a significant share of crypto and digital asset activity in the region. Rather than focusing solely on trading, banks, financial firms and technology companies are increasingly exploring tokenisation, stablecoins and blockchain-based settlement systems.
This trend is particularly evident in financial hubs such as Singapore and Hong Kong, where regulators have introduced frameworks for digital assets and encouraged experimentation with tokenised financial products.
For Stellar, finance remains the primary focus. “One of our key advantages is that we’re focused on finance,” Lumbres said. “If you’re building solutions for remittances, cross-border payments, DeFi or asset tokenisation, Stellar provides a strong foundation.”
The emphasis on payments is especially relevant in Southeast Asia, where millions of people work overseas and regularly send money home. Countries such as the Philippines continue to be among the world’s largest recipients of remittances, creating demand for faster and cheaper cross-border payment solutions.
Yet technology alone is not enough, Lumbres argued. Builders must also understand the regulatory environment in which their products will operate.
“If you’re building a remittance solution, it’s not enough to create the app,” he said. “You also need to think about regulatory requirements, licensing and how the business will operate long term.” Governments, he added, have an important role to play in helping local innovation ecosystems develop.
Across Asia, policymakers are trying to strike a balance between encouraging innovation and protecting consumers. Several countries have introduced licensing regimes for crypto businesses and digital asset providers, while others are exploring frameworks for stablecoins and tokenised assets.
Lumbres believes startup-friendly policies could help accelerate development. “Builders can only dream so much, but without money and funding, projects get put on hold,” he said. “Governments should provide grants to startups and builders and make regulations easier for young companies to navigate.”
The discussion around blockchain is also expanding beyond cryptocurrencies. Across Asia, blockchain systems are increasingly being tested for supply chain tracking, digital identity verification, carbon credit management, and other enterprise applications.
Still, Lumbres sees the greatest opportunity in financial services, particularly in decentralised finance (DeFi). “If you’re building something today, you should build it around finance; the opportunity is in DeFi.”
He argued that blockchain-based systems can offer greater transparency and security compared to traditional financial infrastructure, especially as digital transactions become more common worldwide. “Blockchain is more secure through its algorithms and globally distributed nodes operating 24/7,” he said.
For Lumbres, the next stage of blockchain adoption will be defined not by speculation but by practical implementation. As institutions explore tokenised assets, governments refine regulations and developers build products aimed at real financial needs, the industry appears to be moving toward a more mature phase. “If you’re going to build,” he said, “focus on the financial system.”
