Bybit x DL Research Unveils Crypto Adoption in Europe

A new report from Bybit and DL Research indicates that smaller European states like Lithuania, Estonia, and Ireland are leading the way in crypto adoption. Larger countries such as France and Germany are integrating crypto into mainstream finance, but the agility of smaller markets gives them an edge. The World Crypto Rankings 2025 evaluates adoption through user penetration, transactional use, institutional readiness, and cultural penetration.

Lithuania ranks third globally, lagging only behind Singapore and the US, as a pivotal EU crypto hub due to the Markets in Crypto-Assets Regulation (MiCAR). Ireland and Estonia also feature in the global top 15, highlighting their roles as tech hubs and digital leaders respectively. Austria positions itself through a solid cultural and academic approach.

The report suggests that while smaller states drive adoption through regulatory agility, larger Western European nations are embedding crypto in established systems. Switzerland stands out with its robust infrastructure, while the Netherlands leverages its high public curiosity and progressive policies.