India and US Lead 2025 Crypto Market as Stablecoin Volumes Hit $4 Trillion

Global cryptocurrency adoption has accelerated dramatically in 2025, with India maintaining its position as the world's leading market for digital asset adoption. The United States saw transaction volumes surge 50% year-over-year, crossing the $1 trillion threshold. Stablecoins emerged as the dominant force in this expansion, processing a record $4 trillion in transactions by August.

South Asia experienced particularly explosive growth, with crypto transaction volumes climbing 80% during the first seven months of 2025. India's three-year reign as adoption leader reflects deepening retail engagement and the increasing use of stablecoins for payments and savings. The U.S. market benefited from regulatory clarity, securing its position as the second-largest crypto economy.

TRM Labs' latest report highlights a 125% increase in retail participation globally between January and September 2025. Emerging markets like Pakistan and the Philippines are driving adoption through crypto-based remittance solutions, while institutional activity continues to concentrate in established financial hubs.