- South Asia leads global crypto surge as adoption hits record highs.
- Stablecoins dominate 2025 transactions, driving massive retail participation worldwide.
- U.S. strengthens crypto dominance with supportive regulations and trillion-dollar volume.
Global cryptocurrency adoption surged significantly in 2025, with South Asia emerging as the fastest-growing region and the United States retaining its position as the largest crypto market by transaction volume, according to a new report from TRM Labs.
The 2025 Crypto Adoption and Stablecoin Usage Report by TRM Labs revealed that countries such as India and Pakistan recorded an 80% rise in crypto adoption between January and July 2025 compared to the same period in 2024. Their combined transaction volume reached nearly $300 billion, underlining the region’s growing dominance in the digital asset landscape.
India maintained its top position for the third consecutive year in global crypto adoption rankings. It was followed by the United States, Pakistan, the Philippines, and Brazil, reflecting a diverse mix of emerging and established markets embracing digital assets at scale.
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Stablecoins and Retail Activity Drive Expansion
Meanwhile, the U.S. market recorded a 50% jump in crypto transaction volume within the first seven months of 2025, surpassing $1 trillion. This expansion was largely driven by regulatory clarity and institutional participation following the implementation of the GENIUS Act and the White House’s 180-Day Digital Assets Report.
Stablecoins played a central role in driving crypto growth across multiple regions. TRM Labs noted that they accounted for around 30% of total crypto transactions. By August 2025, stablecoin transaction volumes hit a record $4 trillion, marking an 83% year-on-year increase. Tether and Circle together dominated the sector, representing about 93% of total stablecoin market capitalization.
Regulation, Retail Growth, and the Mainstream Shift
Additionally, TRM Labs observed a sharp rise in retail participation. Retail transactions grew more than 125% between January and September 2025 compared to the same months in 2024. This highlighted the increasing role of individuals using crypto for payments, remittances, and as a store of value amid economic uncertainty.
TRM Labs emphasized that adoption has grown both in countries with clear regulatory frameworks and in those maintaining restrictions or bans. These contrasting developments reflect a consistent trend toward digital assets entering the financial mainstream. Stablecoins, in particular, continue to define this transition by bridging traditional finance and decentralized ecosystems.
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