India Leads the World in Cryptocurrency Adoption for 2025, ETBFSI

India tops global crypto adoption for second consecutive year
India has retained its position as the world leader in cryptocurrency adoption for the second year in a row, according to the 2025 Global Crypto Adoption Index by Chainalysis. The country ranked first across all key metrics, including retail and institutional use, activity on centralized platforms, and engagement in decentralised finance (DeFi).

The report highlights India’s role in driving the Asia-Pacific (APAC) region’s status as the fastest-growing hub of grassroots crypto activity. In the 12 months ending June 2025, APAC saw a 69% year-on-year increase in crypto transaction value, rising from $1.4 trillion to $2.36 trillion. India, alongside Pakistan and Vietnam, accounted for the majority of this surge, reflecting widespread adoption across both centralized and decentralized services.

Within India, retail and institutional participation in crypto has accelerated, fueled by growing familiarity with DeFi platforms and digital financial services. The country led APAC in value received through both retail and institutional centralized services, as well as DeFi, positioning it ahead of all other major global markets.

North America dominates in volumes

Globally, North America and Europe continue to dominate in absolute transaction volumes, with $2.2 trillion and $2.6 trillion, respectively, in annual activity. North America’s growth of 49% was driven by regulatory clarity and the approval of spot bitcoin ETFs, while Europe recorded a 42% increase. However, India’s widespread grassroots engagement demonstrates that adoption in the Global South is increasingly driven by practical, everyday use rather than purely institutional investment.

The report stresses India’s emerging dominance in cryptocurrency adoption, signaling that the country is not only a key participant in global digital finance but also a driver of broader APAC growth in crypto usage.

• Published On Sep 13, 2025 at 08:00 AM IST

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