KEY TAKEAWAYS
- Bybit and DL Research release the World Crypto Rankings 2025, analyzing crypto adoption in 79 countries.
- Singapore leads in crypto adoption due to regulatory clarity, with the US following due to ETF approvals.
- Stablecoins dominate as a digital asset use case, with local currency stablecoins emerging globally.
- Real-world asset tokenization is rising, with Asia-Pacific leading in next-generation finance.
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced the release of the World Crypto Rankings (WCR) 2025. Developed in collaboration with DL Research, this comprehensive report examines how 79 countries and territories are integrating cryptocurrency into their societies. The WCR utilizes 28 metrics and 92 data points to provide a multidimensional view of global crypto adoption, offering insights into the opportunities and challenges faced by industry leaders, policymakers, and users worldwide.
Global Crypto Adoption: Key Insights
The report highlights that factors driving global crypto adoption are increasingly diverse, ranging from technological advancements to economic instability. While higher-income countries benefit from better infrastructure, lower-income nations often adopt crypto out of necessity. The rankings reveal that the biggest crypto hubs are not always those with the largest economies, but there is a positive correlation between GDP per capita and overall crypto adoption.
Singapore leads the world in crypto adoption due to regulatory clarity and institutional maturity, with over 11% of its population holding cryptocurrency. The United States follows, bolstered by landmark ETF approvals and a pro-crypto government. Lithuania, Switzerland, and the United Arab Emirates round out the top five, each playing unique roles in the global crypto landscape.
Stablecoins and Real-World Asset Tokenization
Stablecoins have emerged as the leading digital asset use case, serving as safe havens during economic instability and facilitating cross-border payments. The report notes that while USD-pegged stablecoins dominate, more countries are developing local currency stablecoins to enhance domestic payment efficiency and reduce reliance on the US dollar.
Alongside stablecoins, the trend of real-world asset tokenization is gaining momentum. This process involves representing assets like bonds and real estate on the blockchain, increasing market efficiency and transparency. The report indicates that the total on-chain value of tokenized assets has risen significantly, positioning Asia-Pacific as a leader in next-generation finance.
On-Chain Payrolls and the Future of Work
Crypto payrolls are becoming a regulated payment method for the global workforce, with stablecoins accounting for over 90% of these payments. This trend is particularly notable in high-remittance economies like the UAE and the Philippines, where crypto is increasingly used to pay workers and freelancers, bypassing traditional remittance channels.
The World Crypto Rankings 2025 report, available here, provides a detailed view of these trends and their implications for the future of digital finance.
Why This Matters: Impact, Industry Trends & Expert Insights
Bybit’s release of the World Crypto Rankings 2025 highlights the diverse factors driving global cryptocurrency adoption, with significant insights into the roles of stablecoins and real-world asset tokenization.
A recent Chainalysis report highlights the broad-based, regionally diverse growth in global crypto adoption, with emerging markets showing particularly strong momentum. This aligns with Bybit’s findings that highlight diverse adoption factors across different income levels and regions.
Insights from RiseWorks emphasize the growing trend of crypto payroll adoption, especially in high-remittance economies. This supports the report’s focus on the increasing use of crypto in payrolls, particularly in regions like the UAE and the Philippines, where it bypasses traditional remittance channels.
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