Asia-Pacific
year-over-year on-chain value received
Earth · Global intelligence
Crypto is global.
Adoption is local.
Digital assets move through borderless networks. Their use, rules and institutional rails are shaped locally. This is an atlas of evidence—not a league table of good and bad countries.
- economies
- 151
- activity dimensions
- 4
- activity window
- 07/24—06/25
- data state
- Periodic
01 · Where activity concentrates
Ten nodes in a global network.
The top ten in Chainalysis' 2025 overall index. It measures modeled, weighted activity—not owner counts.
Definition
A relative adoption index built from estimated on-chain activity—not a count of owners, wallets or people.
Method
Four sub-indices cover centralized, retail centralized, DeFi and institutional centralized activity. Country estimates use service web-traffic patterns, are weighted by population and purchasing power, combined geometrically and normalized from 0 to 1.
Limits
Web traffic can mislocate VPN users; the index ranks modeled activity and cannot establish how many unique people own crypto.
02 · Regional pulse
Momentum means different things in different places.
Estimated on-chain value received in the 12 months ending June 2025. This is flow growth, not growth in owner population.
Latin America
year-over-year on-chain value received
Sub-Saharan Africa
year-over-year on-chain value received
North America
year-over-year on-chain value received
Europe
year-over-year on-chain value received
MENA
year-over-year on-chain value received
03 · Public signal
Holding is not regulation. Regulation is not adoption.
Four documented evidence states keep distinct forms of public-sector engagement separate.
United States
An executive order established a Strategic Bitcoin Reserve capitalized initially with finally forfeited government BTC. Forfeiture origin and reserve policy are shown together; this is not a citizen-adoption measure.
The White House · 2025-03-06European Union
MiCA creates common rules for covered crypto-asset issuers and service providers. Regulation is market governance, not government endorsement of an asset.
ESMA / EUR-Lex · 2024-12-30Hong Kong
A licensing regime took effect for issuers of fiat-referenced stablecoins, with supervisory and anti-money-laundering guidance.
Hong Kong Monetary Authority · 2025-08-01Multilateral
Project Agorá is testing tokenized central-bank reserves and commercial-bank deposits for wholesale cross-border payments. It concerns regulated money infrastructure, not public cryptocurrency adoption.
Bank for International Settlements · 2026-05-2704 · Exchange geography
A global platform is not one country.
These are educational examples, not recommendations. A customer meets a legal entity, product and permission—not an abstract brand.
United States base · multiple legal entities
US state licenses coexist with a Luxembourg MiCA-authorized entity and other European entities. The serving entity and protections vary by product and customer location.
Licensing recordGlobal platform · locally regulated entities
Its disclosed Abu Dhabi entities hold distinct exchange, clearing, custody and trading permissions. Those permissions should not be generalized to every product or country.
Licensing recordWhy it matters
Geography is a layer of market structure.
Local rules shape access to liquidity, stablecoin redemption, custody and legal recourse. Banking rails, mobile access and cross-border needs shape whether a public network becomes an investment venue, payment channel or invisible back end. One global number cannot explain adoption.
Data record
- Primary dataset
- Chainalysis 2025 Global Crypto Adoption Index
- Activity period
- 2024-07 — 2025-06
- Last reviewed
- 2026-09-03
- Update cadence
- When the annual index or an official evidence source changes
No node on this page is presented as live market data. External links preserve the source record for each quantitative or institutional claim.
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