The excerpt of the sixth annual Chainalysis Global Crypto Adoption Index, which looks at countries on both on and off chain data for crypto, while the Arab countries did not make it to top 20 of the list, Jordan did make top 4 out of top 10 global adoption by country when taking into it the population. MENA saw a modest 33% growth, suggesting a slower pace of adoption relative to other emerging markets, though total volume still exceeded half a trillion dollars.
In Chainalysis 2024 Geography of Cryptocurrency report, the numbers were different it noted that MENA was the seventh largest crypto market globally in 2024 with the biggest two crypto countries being Turkey and Morocco. In addition, it noted that the fastest growing crypto countries are Saudi Arabia and Qatar. Saudi Arabia remains the fastest-growing crypto economy in the MENA region, growing by 154% year-over-year,
In each year’s report, Chainalysis looks at on- and off-chain data to determine which countries are leading the world in grassroots crypto adoption. While the Chainalysis index traditionally focused on total activity adjusted for GDP per capita, an approach that worked best when crypto was niche and concentrated among high-volume users, as adoption increased the new index was adjusted for population.
As per Chainalysis, countries in Eastern Europe, including Ukraine, Moldova and Georgia, top the list, reflecting high levels of crypto activity relative to the size of their populations. The 4th on the list is Jordan.
Moreover no Arab country made it to top 20 global list, interestingly Nigeria was dropped from number 2 position replaced by USA, with of course India as always in the lead. Nigeria now holds number 6 position.
The fastest growing region was APAC, with a 69% year on 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.
Close behind, Latin America’s crypto adoption grew by 63%, reflecting rising adoption across both retail and institutional segments. In comparison, Sub-Saharan Africa’s adoption grew by 52%, indicating the region’s continued reliance on crypto for remittances and everyday payments.
North America and Europe continued to dominate in absolute terms, receiving over $2.2 trillion and $2.6 trillion, respectively, in the past year. North America’s 49% growth reflects a year of renewed institutional interest, bolstered by the launch of spot bitcoin ETFs and increased regulatory clarity. Europe’s 42% gain, while lower than other regions, still represents a substantial increase, given its already high base, highlighting the continent’s sustained institutional activity and expanding user base.
Fiat on ramping
In Chainalysis’s 2025 Global Adoption Index when assessing fiat on ramp behaviour between July 2024 and June 2025 that found that Bitcoin leads by a wide margin, accounting for over $4.6 trillion in fiat inflows during the period. That’s more than double the next-highest category, Layer 1 tokens (excluding BTC and ETH), which saw roughly $3.8 trillion in volume.
Stablecoins ranked third at $1.3 trillion, while altcoins followed at approximately $540 billion. Other categories, including low-liquidity tokens, meme coins, and DeFi, each received less than $300 billion in fiat inflows.
