India and the United States top the world in cryptocurrency -admission this year, according to Chainalysis’ 2025 Geography of Cryptocurrency Report, which emphasizes how both grass roots and institutional forces shape the trajectory of the market.
The sixth edition of the annual Global Crypto Adoption Index ranks India first across each subcategory measured, from retail to institutional currents. USA climbed up to second overall, strengthened by rising institutional participation after the approval of Spot Bitcoin exchange traded funds (ETFS). Pakistan, Vietnam and Brazil end the top five.
The Asia Staff Ocean emerged as the fastest growing region, with on-chain transaction volume that rose 69% years to year to $ 2.36 trillion, driven by widespread activity in India, Pakistan and Vietnam.
Latin America followed 63% growth, while Africa south of the Sahara expanded 52% on the back of transfers and daily payments. North America and Europe continued to dominate in absolute terms with $ 2.2 trillion and $ 2.6 trillion respectively received in the past year.
Stableecoins continue to be a pillar of global adoption with USDT) and USDC that accounts for trillion in monthly streams.
Circle’s Euro-backed EURC, launched under Europe’s Mica regime, grew nearly 90% month-over-month and reached $ 7.5 billion in June 2025. Paypal’s Pyusd also accelerated and rose from $ 783 million to $ 3.95 billion.
Payment giants including Visa and Mastercard have also rolled out stablecoin-bound products.
Bitcoin remains the primary entry point for Fiat ramps, which attracts $ 4.6 trillion in influx between July 2024 and June 2025, more than twice the next category, LAG 1 symbols excluding BTC and ETH. The United States is still the world’s largest fiat ramp of $ 4.2 trillion, four times South Korea.
Chainalysis notes that the adoption is widely based across income levels where high, middle and low-income countries rise in Tandem, although the latter remains more vulnerable to shock.
