TLDR
- India ranks first in global crypto adoption, surpassing both retail and institutional metrics.
- The U.S. rises to second place, driven by regulatory progress and institutional engagement
- APAC experiences a 69% growth in on-chain crypto activity, led by India, Vietnam, and Pakistan.
- Latin America and Africa see rapid crypto adoption, driven by financial inclusion and remittance use.
In a year marked by growing institutional interest and clearer regulatory frameworks, India and the United States have emerged as leaders in global cryptocurrency adoption. The 2025 Global Crypto Adoption Index, published by Chainalysis, highlights the increasing importance of these two countries in shaping the future of digital assets.
India Dominates Global Crypto Adoption Rankings
India continues to lead the world in cryptocurrency adoption for the second year in a row. Chainalysis’ 2025 report reveals that India ranks first across several key categories, including retail centralized service value received, decentralized finance (DeFi) engagement, and institutional crypto service usage.
This marks a significant achievement for India, a country that has rapidly embraced crypto technology as a solution for remittances, financial inclusion, and access to decentralized financial services.
In particular, India’s position at the top of the rankings highlights how widespread crypto usage has become, even among smaller transactions and individual users. The country has demonstrated remarkable growth across retail and institutional adoption, with a growing number of users interacting with centralized and decentralized platforms alike.
US Follows Close Behind, Boosted by Regulatory Momentum
The United States has climbed into second place, up from fourth in the previous year’s rankings. This surge is attributed to a combination of regulatory momentum and significant institutional involvement in the crypto market. With the approval of several spot bitcoin exchange-traded funds (ETFs) and increasing regulatory clarity, the U.S. has become a hub for institutional players, further accelerating its crypto adoption.
However, it’s important to note that while the U.S. has seen impressive growth in institutional crypto activity, its performance in retail and DeFi sectors lags behind countries like India and Pakistan.
The country is still transitioning toward comprehensive regulations that will shape its long-term crypto ecosystem. Despite these challenges, the U.S. remains one of the world’s leading markets for cryptocurrency, driven largely by its established financial infrastructure.
Rapid Growth in the Asia-Pacific Region
Asia-Pacific (APAC) has emerged as the fastest-growing region for cryptocurrency adoption, with a 69% year-over-year increase in on-chain activity, according to the report. The region’s crypto transaction volume surged from $1.4 trillion to $2.36 trillion, fueled by rising participation from countries like India, Vietnam, and Pakistan.
India’s continued dominance in both retail and institutional crypto transactions is a key factor driving this surge. With a population that is highly engaged in digital technologies and a rapidly developing financial ecosystem, India is setting the standard for crypto adoption in the region.
Pakistan and Vietnam also ranked highly in the index, showcasing the broader trend of crypto adoption taking hold in emerging markets across APAC.
Latin America and Africa See Significant Adoption Growth
Latin America, particularly Brazil, is also witnessing increased crypto adoption, with a 63% rise in transaction volume in the past year.
Much of this growth is driven by both retail and institutional interest in cryptocurrencies, as well as a push for greater access to digital financial services. Brazil’s progress in integrating crypto into mainstream financial systems is a key example of this trend.
Meanwhile, Africa continues to rely on cryptocurrencies for remittances and financial inclusion. Countries in Sub-Saharan Africa are seeing higher rates of crypto adoption due to the need for affordable cross-border payment solutions and access to financial services in regions with limited banking infrastructure.
