Bybit, the world's second-largest cryptocurrency exchange, has launched the World Crypto Rankings 2025 in partnership with DL Research. The report evaluates crypto adoption across 79 countries using 28 metrics and 92 data points. It highlights global leaders like Singapore and the United States while emphasizing trends in stablecoins and tokenization.
On December 10, 2025, in Dubai, United Arab Emirates, Bybit announced the World Crypto Rankings (WCR) 2025, a comprehensive report developed with DL Research. This data-driven analysis assesses how 79 countries and territories are integrating cryptocurrency into their societies, drawing on 28 metrics and 92 data points to provide insights beyond simple volume measures.
The rankings reveal diverse drivers of adoption, including regulatory clarity, economic instability, and technological progress. Higher-income nations leverage infrastructure, while lower-income ones adopt out of necessity. A positive correlation exists between GDP per capita and overall adoption, though leading hubs do not always have the largest economies.
Singapore tops the list at number one, driven by regulatory clarity, institutional maturity, and over 11% crypto ownership among its population. The United States ranks second, bolstered by ETF approvals, the GENIUS Act, and leadership in DeFi and centralized exchange flows. Lithuania secures third place as a European licensing hub under MiCA regulations, despite limited domestic volumes. Switzerland follows at fourth for its complete infrastructure and cultural legitimacy in crypto. The United Arab Emirates rounds out the top five, serving as a MENA hub for tokenization and remittances with high user penetration.
Stablecoins emerge as the most adopted use case, functioning as safe havens, payment tools, and DeFi gateways. They are evenly distributed globally, with USD-pegged versions dominating, though local currency stablecoins gain traction for monetary sovereignty and efficiency.
Tokenization of real-world assets (RWAs) is accelerating, with on-chain value excluding stablecoins rising 63% from $15.8 billion to over $25.7 billion since January. This trend, prominent in Asia-Pacific, enhances market efficiency and attracts capital in ready jurisdictions like the US and Canada.
Crypto payrolls are also growing, with 9.6% of professionals now receiving part of their salary in crypto, up from 3% last year, predominantly in stablecoins. This shift is notable in remittance-heavy economies like the UAE and Philippines, dissolving barriers in global labor markets.
The report underscores interconnected trends, predicting that by 2026, proactive regulatory frameworks will drive innovation and revenue, while restrictive policies may push activity elsewhere. It is available for download, compiled from public sources for informational purposes only.