Crypto Adoption Update: South Asia Fuels Crypto Expansion, US Continues as Volume Leader, TRM Labs
Crypto asset acceptance has transcended its marginal beginnings. It has emerged as a worldwide phenomenon as digital currencies have become ubiquitous, with individual traders, institutions, and governments adopting them.
A recent document named the 2025 Crypto Adoption and Stablecoin Usage Report, released by TRM Labs, a research company, has revealed that the most substantial growth in this cycle has been observed in South Asia. This area, as highlighted by earlier Chainalysis reports , is now the quickest expanding center for crypto adoption.
At the same time, the United States leads in overall transaction volume, handling the highest amount of crypto activity overall.
The report indicates that there has been a significant increase in crypto adoption in India and Pakistan from January to July 2025. When compared to the same period last year, this increase is about 80%.
(Source: TRM Labs)
For the third consecutive year, India remains at the forefront of global crypto adoption, with the United States, Pakistan, the Philippines, and Brazil following closely. The varied countries represented in this list illustrate that crypto interest is proliferating in both advanced and emerging markets.
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US Crypto Surpasses $1T: Are Regulators Finally Getting Along?
The US digital currency market experienced significant expansion in early 2025, with trading and transaction volume increasing by 50% in the first seven months, surpassing $1 trillion. TRM Labs attributed this rise to enhanced regulatory clarity, particularly due to the GENIUS Act.
The report also referenced the White House’s 180-Day Digital Asset Report, which facilitated a greater sense of confidence among institutional investors exploring the trading market.
According to TRM Labs, a significant reason behind this uptick in adoption is the emergence of stablecoins as a fundamental element of the digital currency ecosystem.
TRM Labs Study Highlights Increasing Criminal Use of Stablecoins Despite 99% Legitimate Activityhttps://t.co/fpmHvFlVkV
— John Morgan (@johnmorganFL) October 22, 2025
Currently, stablecoins represent about 30% of all cryptocurrency transactions. By August of this year, the transaction volume for stablecoins reached an all-time high of $4 trillion, marking an 83% growth compared to the previous year.