The latest report from blockchain analytics firm Chainalysis shows that Russia has become the country with the highest cryptocurrency adoption rate in Europe. Between July 2024 and June 2025, Russia received $376.30 billion in cryptocurrency transactions, a 48% year-on-year increase, significantly ahead of the UK's $273.20 billion.
The report points out that the growth of the Russian cryptocurrency market is mainly driven by two factors: an 86% year-on-year surge in large institutional transfers, and an eightfold increase in DeFi activity in early 2025. Notably, the ruble-pegged stablecoin A7A5 issued in Kyrgyzstan has become the world's largest non-dollar stablecoin, despite facing multiple sanctions charges.
Analysts believe that the rapid expansion of DeFi and the increase in large-value transfers in Russia suggest that the country is increasingly adopting cryptocurrencies as a financial services tool.
Russia has become the country with the highest cryptocurrency adoption rate in Europe
2025-10-17 13:55:00
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