A comprehensive report on cryptocurrency adoption has just been published, providing a detailed overview of the global situation and identifying the countries most active in this field. Singapore and the United States come out on top, while France does not even appear in the top 20.
Singapore: world champion in crypto adoption
Despite obvious progress over the years, the adoption of cryptocurrencies remains difficult to determine with any accuracy due to the need to take into account numerous parameters, such as the population and countries concerned or the use cases involved.
In light of this, the Bybit platform has partnered with the analysis firm DL Research to publish the World Crypto Rankings 2025. This comprehensive report attempts to provide an accurate overview of the situation over the past year based on four key pillars: user penetration, transactional use, institutional maturity, and cultural penetration.
The goal? To determine a score for each country in order to measure “how they perform relative to their peers.” This is a way of seeing which territories are at the forefront of this trend, based on their size, income, and context.
Unsurprisingly, the United States takes second place in this ranking, behind Singapore, which recorded the best overall score of the year. Third place goes to Lithuania “thanks to its licensing infrastructure and its role as a European gateway under MiCA.”
Singapore’s position can be explained by its regulatory clarity, licensing frameworks, and international institutional influence. The United States combines deep capital markets, strong retail penetration, and high cultural visibility.
France ranks 22nd
Although some European countries rank in the top 10 of this report—such as Lithuania, Switzerland, Ireland, and Estonia—France remains conspicuously absent, despite its large population and significant economy. It does not even make it into the top 20 of this ranking, which includes Ukraine (12), the United Kingdom (14), Austria (15), Poland (16), and Germany (19).
However, the Bybit and DL Research report acknowledges that “France and Germany are making progress thanks to their integration into traditional finance.” But this only allows them to claim 22nd place, between Portugal (21) and New Zealand (23).
France shows solid transactional usage (11th) and improving institutional readiness (30th), but user penetration remains relatively low (41st). Cultural penetration (15th) is progressing, with growing interest in online education and research; however, adoption by the general public remains uneven despite increasing institutional attention.
Nevertheless, this report remains optimistic, pointing to “increasing adoption and growing regulatory clarity” in France. This is all the more true since the implementation of the European MiCA regulatory framework, in relation to which “active participation” appears to be a positive factor.
