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APAC Tops Global Crypto Growth as Chainalysis Flags Japan’s Policy-Driven Surge

Policy reforms, stablecoins, retail demand power the surge.

Overview

  • Chainalysis’ 2025 Global Adoption Index shows Asia-Pacific up 69% year over year to $2.36 trillion in value received for the 12 months to June 2025.
  • Monthly on-chain flows in the region climbed from roughly $81 billion in July 2022 to a $244 billion peak in December 2024 and stayed above $185 billion through mid‑2025.
  • Japan recorded the fastest national growth in APAC at about 120% following tax changes, looser stablecoin listing rules, and approval of a yen‑backed token, with XRP leading local trading at $21.7 billion in JPY pairs.
  • Stablecoins underpin activity across key markets, with KRW purchases reaching $59 billion in South Korea and USDC prominent in regional trading, as banks and regulators prepare new rules.
  • APAC expansion is driven by diverse, often retail-first use cases across India, Vietnam, Pakistan, and others, while global context shows Latin America up ~63% and North American growth tied to regulatory clarity and institutional adoption.