- India leads global crypto adoption in 2025 with strong retail and institutional use across all indicators.
- The United States rises to second place due to higher institutional activity and better regulatory clarity.
- Asia Pacific records fastest growth with $2.36 trillion in crypto volume, led by India, Vietnam, and Pakistan.
India has been ranked top in the Chainalytics Global Crypto Adoption Index 2025. The country ranked first across all evaluated categories. These include value received by centralized services, retail activity, DeFi transactions, and institutional transfers.
The data highlights India’s strong grassroots engagement along with rising institutional participation. This year marks the second consecutive time India has led the global rankings.
U.S. Sees Significant Institutional Growth
America rose to second position in 2025 after appearing in fourth position in 2024. This increased with regulatory developments and the introduction of spot Bitcoin ETFs. In April, US spot Bitcoin ETFs brought in $442M net inflows amid low ETF trading.
Large transfers over 1 million became important drivers of growth as institutional participation in crypto increased significantly. Hedge funds, custodians, and banks increased their operations. Such advancements empowered the U.S over the international crypto scene.
Emerging Markets Show Strong Adoption
India was ranked first, followed by the U.S, Pakistan, Vietnam, Brazil in second, third, fourth, and fifth place, respectively. These countries showed strong retail use, especially for remittances and dollar access.
In regions facing inflation and banking limits, crypto played a critical financial role. Eastern European countries like Ukraine, Moldova, and Georgia showed high activity relative to population size. Factors such as war, economic instability, and financial restrictions supported adoption.
APAC Leads Growth, Bitcoin Dominates Inflows
Asia-Pacific posted the fastest growth in on-chain activity, rising 69% year-over-year to reach $2.36 trillion. This growth was led by India, Vietnam, and Pakistan. Latin America followed with 63% growth, supported by stablecoin use for remittances. North America and Europe maintained leadership in absolute volume. North America recorded $2.6 trillion in volume, while Europe followed with $2.2 trillion.
Bitcoin remains the largest entry point to the crypto market. It accounted for over $4.6 trillion in inflows. Stablecoins also continued to gain ground. USDT processed over $1 trillion per month, while USDC reached a peak of $3.29 trillion in volume. New stablecoins like EURC and PYUSD showed strong momentum. EURC volumes rose 89% month-over-month, driven by eurozone adoption.
Circle’s EURC was recently launched on Base Mainnet due to the successful introduction of USDc on the same network. This enhances euro transactions with robust support and utility.
Crypto Becomes Integrated in Finance
The 2025 report reflects a shift in the crypto landscape. The index includes a sub-index for institutional activity. Retail DeFi activity was removed to better align with actual usage patterns. These changes provide a more accurate view of adoption.
High-income countries are building institutional frameworks. On the other hand, countries with low income still depend on crypto to remit and conduct transactions in dollars. This underscores the increasing prominence of crypto in the world of finance.
