India leads global crypto adoption, APAC emerges as fastest-growing market: Chainalysis

India and the U.S. are leading crypto adoption globally, with Asia Pacific solidifying its role as the global hub of grassroots crypto activity, according to blockchain analytics firm Chainalysis.

India topped the global rankings for the second year in a row, notably surpassing other countries in every criteria, including value received by retail centralized service, institutional service and DeFi, according to Chainalysis' 2025 Global Crypto Adoption Index report .

Meanwhile, the U.S. climbed into the second-highest position from ranking fourth last year. The country's crypto adoption was boosted by regulatory momentum and institutional participation, the report noted.

Pakistan, Vietnam, Brazil and Nigeria followed in overall adoption ranking in 2025. Chainalysis noted that the ranking reflects crypto's increasing role in remittances, dollar access through stablecoins, and mobile-first financial services across emerging economies.

Specifically, the Asia-Pacific (APAC) was the fastest-growing market for crypto activity in the 12 months leading up to June 2025, where the region posted a 69% year-over-year increase in on-chain transaction volume. Total crypto transaction volume in the region jumped to $2.36 trillion from $1.4 trillion, driven largely by strong participation in India, Vietnam, and Pakistan, according to the report.

In terms of absolute volume of crypto transactions, North America and Europe continued to lead with more than $2.2 trillion and $2.6 trillion, respectively. 

Chainalysis said that North America's 49% growth was fueled by the launch of spot bitcoin ETFs and clearer regulations, while Europe's 42% gain underscored steady expansion from an already high base.