'One in five new Web3 developers worldwide is Indian'

Bengaluru: India has the largest Web3 talent base and one in five new Web3 developers worldwide is Indian, said Hashed Emergent, the venture capital arm of blockchain-focused firm Hashed.

At the third edition of India Blockchain Week (IBW) 2025 conference here, Hashed Emergent Chief Executive Officer and Managing Partner Tak Lee in his keynote explained how India wins big in Web3.

Web3 is a decentralised blockchain-powered internet that uses crypto as well as blockchain technologies. In Web3, users have greater ownership. “We’re the No 1. country for crypto adoption three years running, with 115 million users. Meanwhile, we still have high taxation and no clear legal framework,” he said.

Crypto exchanges and experts who participated in the conference called for regulatory clarity.

Hashed Emergent also pointed out that though one in five Web3 developers worldwide is Indian, almost all of them incorporate their companies abroad since they cannot access proper fundraising structures here.

Indian VCs have over $20 billion in unallocated capital, but less than 1% goes to Web3.

For the world’s second-largest cryptocurrency exchange Bybit, India is one of the world’s most active and fast-growing Web3 markets. “By directly engaging with builders, traders, and young innovators across cities, we aim to co-create products and initiatives that truly serve local needs. Our focus is on trust, education, and empowering the next 100 million Indians entering the digital asset economy,” Bybit Country Manager Vikas Gupta said.

India is home to over 1,200 Web3 startups, and nearly 12% of the global blockchain developer pool.

“Across APAC, we are moving beyond speculation toward real, regulated infrastructure. Governments are implementing guardrails, institutional capital is tokenising realworld assets, and stablecoins are being built within regulatory frameworks. This structural shift enables scalable Web3 adoption,” Binance Head of APAC SB Seker said.