- The latest Chainalysis Global Adoption Index shows the United States has climbed to second place, while India has held its lead for the third consecutive year, ranking first across all four sub-indexes.
- The Asia-Pacific (APAC) region has emerged as the fastest-growing hub for crypto adoption, with its total transaction volume soaring by 69% to reach $2.36 trillion in the 12 months ending June 2025.
- The report highlights a growing divergence between institutional-led adoption in developed markets and grassroots adoption in emerging economies, where stablecoins like USDT and USDC are vital for remittances.
The United States went from fourth to second place for crypto adoption in Chainalysis’ 2025 Global Adoption Index, a shift that was driven by regulatory changes and large inflows into spot Bitcoin and Ether ETFs.
But India kept its lead for the third year in a row, ranking first across all four subindexes covering centralised retail, institutional activity, DeFi, and decentralised services.
APAC Leading The Surge In Crypto Adoption
The report detailed that, in June 2025, APAC emerged as the fastest-growing region for crypto-related transactions:
In the 12 months ending June 2025, APAC emerged as the fastest-growing region for on-chain crypto activity, with a 69% year-over-year increase in value received. 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.
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Likewise, North America processed US$2.2T (AU$3.40T), up 49%, while Europe reached US$2.6T (AU$4.02T), up 42%. Latin America also grew 10%, with Brazil, Argentina, and Venezuela in the top twenty.
Institutions and Emerging Economies
Chainalysis said the rankings highlight how crypto adoption now diverges between institutional-heavy developed markets and grassroots-driven emerging ones, where stablecoins remain vital for remittances and savings.
Naturally, USDT and USDC dominate remittances, pretty much outranking every other stablecoin when looking at the scale; from June 2024 to June 2025, USDT processed more than US$1 trillion (AU$1.55 trillion) in transactions each month, peaking at US$1.14 trillion (AU$1.76 trillion) in January 2025.
USDC ranged from US$1.24 trillion (AU$1.92 trillion) to US$3.29 trillion (AU$5.09 trillion) monthly, with the highest activity in October 2024.
That doesn’t mean other important stablecoin stood behind, as the report reads:
Smaller stablecoins like EURC, PYUSD, and DAI experienced rapid growth. EURC grew nearly 89% month-over-month on average, with monthly volume rising from approximately $47 million in June 2024 to over $7.5 billion by June 2025. PYUSD also showed sustained acceleration, rising from around $783 million to $3.95 billion in the same period.
ChainalysisOn that note, the stablecoin market recently hit a record US$280B (AU$426B) in market capitalisation, as Crypto News Australia reported, and it’s expected to surpass US$400B (AU$609B) by the end of this year.
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