TLDR:
- India ranks first globally in retail, DeFi, CeFi, and institutional crypto adoption in 2025.
- APAC monthly on-chain value peaked at $244B in Dec 2024, maintaining $185B in 2025.
- Japan saw 120% YoY growth, XRP led trading with $21.7B in JPY transactions.
- South Korea’s stablecoin use surged to $59B, driven by professional traders and liquidity needs.
Asia-Pacific is emerging as the fastest-growing hub for cryptocurrency adoption. According to Chainalysis, the region’s on-chain transaction volumes surged from $81 billion in July 2022 to a peak of $244 billion in December 2024.
Even as volumes declined slightly, APAC continues to maintain monthly transactions above $185 billion through mid-2025. Growth patterns vary across markets, reflecting diverse adoption strategies.
India, Japan, South Korea, and Pakistan each follow distinct paths shaping the regional crypto landscape.
India Leads APAC in Crypto Adoption
India holds the top spot in the 2025 Global Crypto Adoption Index, leading in retail, CeFi, DeFi, and institutional use.
A large diaspora and fintech innovations like UPI and eRupi have accelerated adoption. Young adults increasingly rely on crypto trading for supplemental income, while grassroots communities integrate digital assets into everyday payments.
According to a tweet by @wiseadvicesumit, India’s diverse crypto landscape is unmatched globally, reinforcing the country’s dominant position in the APAC market.
Despite regulatory uncertainties, India’s crypto ecosystem continues to grow. Organizations such as the Bharat Web3 Association aim to normalize crypto as a secure value-transfer option.
𝗔𝗣𝗔𝗖 𝗟𝗘𝗔𝗗𝗜𝗡𝗚 𝗚𝗟𝗢𝗕𝗔𝗟 𝗖𝗥𝗬𝗣𝗧𝗢 𝗔𝗗𝗢𝗣𝗧𝗜𝗢𝗡 🌏
Chainalysis shows Asia-Pacific is the fastest-growing crypto region:
• India #1 globally in retail, DeFi & institutional adoption
• On-chain volume: 244B in Dec 2024, still 185B+ monthly in 2025
• Japan… pic.twitter.com/Sno4OWLelR— Wise Advice (@wiseadvicesumit) September 25, 2025
Financial inclusion and digital payments infrastructure support the rising adoption of digital currencies. Chainalysis data shows India received $338 billion in on-chain transactions, the highest in the region, highlighting both retail enthusiasm and institutional engagement.
Professional traders also play a role in India’s market. Transaction sizes between $10,000 and $1 million dominate the professional segment. These users account for a sizable portion of on-chain activity, reflecting advanced trading strategies alongside retail participation.
Institutional players are gradually entering as the regulatory environment develops, signaling long-term market stability.
India’s role as a global crypto leader has wider implications for the APAC region. As other markets observe India’s model, regulatory and adoption strategies may evolve in neighboring countries. With ongoing fintech expansion, the country could influence APAC’s overall trajectory in digital asset growth.
Crypto Growth Across Japan and South Korea
Japan has experienced remarkable growth, with on-chain value increasing 120% year-on-year. XRP dominates local trading with $21.7 billion in JPY transactions, followed by BTC and ETH.
The growth is linked to regulatory adjustments, including licensing stablecoin issuers and refining crypto tax policies. Analysts note that stablecoins such as USDC and JPYC may gain further traction in domestic exchanges.
South Korea shows a different dynamic, with stablecoins fueling market expansion. KRW-denominated stablecoins reached $59 billion over 12 months, driven by professional trading and liquidity management.
Exchanges such as Bithumb and Coinone introduced USDT/KRW pairs in late 2023, accelerating adoption. Regulators are exploring frameworks to govern issuance and distribution, aiming for comprehensive oversight that matches market activity.
On-chain activity in South Korea is concentrated in professional trading segments, accounting for nearly half of the total transaction volume. Retail participation remains steady, but professional and institutional players are increasingly shaping market behavior.
As stablecoins integrate with trading and settlement systems, adoption is expected to broaden further.
Smaller APAC markets, including Pakistan and Vietnam, reflect unique approaches. In Pakistan, $35 billion in remittances use stablecoins as an inflation hedge. Vietnam integrates crypto into daily payments, gaming, and savings.
These variations illustrate how diverse financial ecosystems adopt crypto according to local needs and regulatory signals.
