Here’s why Russia ranks highest in Europe for crypto adoption: Chainalysis
Russia leads Europe in crypto adoption with $376.3 billion received, driven by institutional transfers and DeFi growth.Summary
According to Chainalysis' latest European Crypto Adoption report, Russia is the leading crypto market in Europe, receiving $376.3 billion in crypto between July 2024 and June 2025, a 48% increase from the previous year. This surge is attributed primarily to an 86% year-over-year spike in large institutional transfers (exceeding $10 million) and significant growth in decentralized finance (DeFi) activity, which increased eightfold. Furthermore, Russia leads in retail segments. A key driver of this trend is the sanctioned ruble-pegged stablecoin A7A5, issued in Kyrgyzstan, which has become the world's largest non-US dollar stablecoin by market capitalization and is reportedly used by Russian entities for cross-border payments to evade sanctions. Chainalysis' findings highlight Russia's growing use of crypto for financial services amid increasing sanctions and regulatory scrutiny.
(Source：Cointelegraph)