September 09, 2025
By Anjali Kocchar
India has claimed the top spot in global cryptocurrency adoption for 2025, according to the latest Chainalysis Global Crypto Adoption Index. The nation ranks first across every measured category including retail, decentralised finance (DeFi), cryptocurrency value received via centralised services, and institutional activity, underscoring its dominance on the global crypto stage.
The United States secured the second position, propelled by surging institutional participation following the approval of several spot Bitcoin exchange-traded funds (ETFs) and a clearer regulatory framework.
Asia Pacific has emerged as the fastest growing region in global crypto usage, registering a remarkable 69 percent year-on-year increase in total on-chain crypto transaction volume. This figure rose from $1.4 trillion to $2.36 trillion, predominantly driven by heightened activity in India, Pakistan, and Vietnam.
In contrast, Latin America grew by 63 percent, Sub-Saharan Africa by 52 percent, North America by 49 percent, and Europe by 42 percent, reflecting a global trend of rising crypto engagement across both developed and emerging economies.
Stablecoins continue to dominate global crypto flows. Tether (USDT) and USD Coin (USDC) processed over $1 trillion in monthly transaction volume, with USDT peaking at $1.14 trillion in January 2025, highlighting their integral role in global crypto infrastructure.
Meanwhile, new entrants like Circle’s euro-backed EURC and PayPal’s PYUSD are making swift inroads. EURC’s volume expanded nearly 89 percent month-over-month, rising from roughly $47 million in June 2024 to $7.5 billion in June 2025, while PYUSD surged from $783 million to $3.95 billion over the same period.
India’s top ranking marks the third consecutive year it has led global crypto adoption. This success stems from broad-based engagement across retail, decentralised, and institutional channels, showcasing how digital assets are woven into the fabric of everyday financial life.
The report paints a diverse global crypto landscape. Emerging markets like India are driving grassroots adoption, while more mature economies such as the U.S. are advancing through regulatory clarity and institutional flows. Together, these forces are redefining how cryptocurrency is integrated into global finance.
About the author
Anjali Kochhar covers cryptocurrency and blockchain stories in India as well as globally. Having been in the field of media and journalism for over four years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.
