India and the United States continue to lead global cryptocurrency adoption in 2025, according to the latest report from TRM Labs. India has retained its top position for a third consecutive year, with the United States following closely behind. South Asia remains the fastest-growing region, recording an 80% increase in crypto activity and reaching $300 billion in transaction volume so far this year.

The surge in adoption is being driven by both retail and institutional investors. Globally, retail crypto transactions have risen by over 125% since January, highlighting growing use for payments, remittances, and as a tool for preserving value in uncertain economic climates. In the United States, transaction volume jumped 50% year-on-year, surpassing the $1 trillion milestone in the first seven months of 2025. This growth is attributed to enhanced regulatory clarity, including new legislation such as the GENIUS Act and more proactive government engagement in digital assets.

Stablecoins have become increasingly central to the cryptocurrency landscape. By August 2025, stablecoin trading volume had reached $4 trillion, growing 83% year-on-year, and now represents roughly 30% of all crypto transactions. The market continues to be dominated by major players like Tether and Circle, which account for over 90% of stablecoin market capitalization.

Notably, crypto adoption is also expanding in countries with strict regulations or outright bans, suggesting that restrictions may encourage alternative, peer-to-peer and over-the-counter trading methods instead of halting growth. Countries such as Pakistan, the Philippines, and Brazil are also among the leading adopters, reflecting the widespread global interest in digital assets.

The TRM Labs report underscores that while regulatory clarity and supportive policy environments fuel adoption in some regions, even restrictive environments have not significantly hindered crypto’s global momentum. As stablecoins gain greater traction and practical applications of crypto continue to expand, the industry is moving further into the financial mainstream, reshaping how individuals and institutions participate in the global economy.