The Asia-Pacific (APAC) region has emerged as the fastest-growing cryptocurrency market globally, driven by regulatory clarity and diverse adoption pathways, according to a Chainalysis report published in September 2025. From July 2022 to December 2024, monthly on-chain value received in APAC skyrocketed from approximately $81 billion to a peak of $244 billion, maintaining levels above $185 billion per month through mid-2025. Transaction volume in the region surged from $1.4 trillion to $2.36 trillion in the 12 months ending June 2025, outpacing other regions.
Japan recorded the strongest growth, with on-chain value increasing by 120% year-over-year, fueled by regulatory shifts such as treating tokens as investment instruments, planned tax updates, and the licensing of the first yen-backed stablecoin, JPYC. India led in total on-chain value at $338 billion, supported by UPI infrastructure and remittance use, while South Korea saw professional trader dominance, and Vietnam exhibited everyday utility for savings and gaming. Australia's tighter supervision and Hong Kong and Singapore's policy innovations further contributed to APAC's resilience.
Traders channeled heavy volumes into XRP, BTC, and ETH, with stablecoins like USDC and JPYC gaining traction. The region's growth, often second only to Europe, highlights its increasing influence on global crypto flows, sustained by factors beyond trading, such as remittances and institutional entry.