Our ServicesResearch and InnovationAUB Research SeriesPublication

Exploring the Determinants of Cryptocurrency Usage Intentions in Cambodia: A Quantitative Study Based on Technology Adoption Model (TAM)

Evanuk Sarath

ACLEDA University of Business

Bunteng Long

Western University

ISSN: 3078-3771 (Print & Online)

Keywords: Cryptocurrency, Usage Intentions, Technology Adoption Model (TAM)

Published: 2025-08-28

How to Cite in APA Style: Sarath.E., & Long.B. (2025). Exploring the determinants of cryptocurrency usage intentions in Cambodia: A quantitative study based on technology adoption model (TAM). AUB Research Series, Vol 4, 60–89.

Download

Abstract

This study investigates the determinants influencing the intention to use cryptocurrencies in Cambodia, where research on this topic remains limited. Employing a quantitative approach, the study applies the Technology Acceptance Model 2 (TAM2) to examine key factors affecting user adoption. Data was collected through structured survey questionnaires distributed via social media platforms such as Messenger, Facebook, and Telegram. A total of 258 respondents with prior experience using cryptocurrencies participated in the study. Using multiple regression analysis, the findings reveal that electronic word-of-mouth (eWOM), web/app quality, perceived risk, performance expectancy, and trust significantly influence users’ intention to adopt cryptocurrencies. These insights contribute to a deeper understanding of cryptocurrency adoption in emerging markets and offer practical implications for developers, marketers, and policymakers.

Authors' Biography

Evanuk Sarath recently earned a Master’s degree in Finance, following the completion of a Bachelor’s degree in Finance & Banking in 2023. With a strong academic background, he has developed expertise in financial management, accounting, and advisory services. Currently, he works as an Accounting Officer at Asianerial Advisory Co., Ltd. where he is responsible for preparing financial reports, managing accounting records, and supporting client advisory engagements. This role has allowed him to apply academic knowledge in a professional environment, gaining valuable experience in both technical accounting and client service. With a commitment to continuous learning and professional growth, he aims to contribute to the development of financial strategies, advisory solutions, and business decision-making with a long-term goal of advancing within the financial services industry.

Bunteng Long is a professor, a scholar and a researcher who has a doctoral degree in Innovative Technology and Business Management, a Master's degree in General Management from Assumption University of Thailand (AU), and a Bachelor's degree in Finance and Banking from the National University of Management (Cambodia). He has been in higher education for almost 20 years. In this education career, he has been teaching different disciplines of business-related courses, researches, digital business, and supply Sarath & Long, 2025 AUB Research Series, Volume 4, 2025 85 chain management in both undergraduate and post-graduate levels. Moreover, Dr. Bunteng has developed and designed a number of academic programs and professional skills and has provided several corporate training courses in the business industry. At the same time, he has also produced several articles and journals, all of which have been published internationally. He is also a well-recognized reviewer and supervisor for lots of researches and articles for higher educational institutions in Cambodia. In late 2023, Dr. Bunteng was awarded an outstanding Ph.D. 'S holder's Award for his Research contribution in Digital Education by ACLEDA Institute of Business and a nomination as a research fellow and visiting scholar at a well-known university in Malaysia, the INTI International University of Malaysia.

Authorship Disclaimer

The authors are solely responsible for the content of this article. The views expressed herein are those of the authors and do not necessarily reflect the views of the journal, its editors, or the publisher.