India and the United States of America are the leading countries in the adoption of cryptocurrency globally in 2025, according to the sixth annual Chainalysis Global Crypto Adoption Index.
“In 2025, APAC
furthered its status as the global hub of grassroots crypto activity, led by India, Pakistan, and Vietnam, whose populations drove widespread adoption across both centralized and decentralized services,” the report added.
Vikas Gupta, Country Manager, Bybit India explained that India leads in retail participation, driven by a tech-savvy young population, affordable internet, and increasing financial inclusion. “With over 750 million smartphone users and some of the lowest mobile data costs in the world, India’s crypto ecosystem is inherently mobile-first and easily accessible,” Gupta added.
Gupta further said that India also contributes significantly as a builder, hosting one of the largest pools of blockchain developers and engineers. “Strong engagement in DeFi platforms and over $1.3 billion in Web3 startup funding since 2020 further underscore India’s pivotal role in driving global crypto adoption,” he added.
| Country | Overall index ranking | Retail centralized service value received ranking | Centralized service value received ranking | DeFi value received ranking | Institutional centralized service value received ranking |
| India | 1 | 1 | 1 | 1 | 1 |
| United States | 2 | 10 | 2 | 2 | 2 |
| Pakistan | 3 | 2 | 3 | 10 | 3 |
| Vietnam | 4 | 3 | 4 | 6 | 4 |
| Brazil | 5 | 5 | 5 | 5 | 5 |
| Nigeria | 6 | 7 | 8 | 3 | 8 |
| Indonesia | 7 | 9 | 7 | 4 | 7 |
| Ukraine | 8 | 4 | 6 | 8 | 6 |
| Philippines | 9 | 6 | 9 | 13 | 10 |
| Russian Federation | 10 | 8 | 10 | 9 | 11 |
Meanwhile, North America, as mentioned in the report, climbed to the second-highest regional position in the presence of regulatory momentum, including the approval of spot bitcoin ETFs and clearer institutional frameworks, helping to legitimize and accelerate crypto participation across traditional financial channels.
APAC is the fastest growing region
Another important feature underlined in the report is that APAC has become the fastest-growing region for on-chain crypto activity.
The region saw a 69 per cent year-on-year increase in value received, it said. “Total crypto transaction volume in APAC grew from $1.4 trillion to $2.36 trillion, driven by robust engagement across major markets like India, Vietnam, and Pakistan,” the report mentioned.
At the same time, North America and Europe continue to dominate in absolute terms, receiving over $2.2 trillion and $2.6 trillion, respectively, in the past year. North America’s 49% growth reflects a year of renewed institutional interest, bolstered by the launch of spot bitcoin ETFs and increased regulatory clarity. Europe’s 42% gain, while lower than other regions, still represents a substantial increase, given its already high base, highlighting the continent’s sustained institutional activity and expanding user base. Meanwhile, MENA saw a more modest 33% growth, suggesting a slower pace of adoption relative to other emerging markets, though total volume still exceeded half a trillion dollars.
