Bybit, in collaboration with DL Research, has published the "World Crypto Rankings Report 2025," evaluating cryptocurrency adoption across 79 countries using 28 indicators and 92 data points. Singapore emerged as the global leader, surpassing the United States, due to its regulatory clarity and high resident currency holding rate. The U.S. ranked second, followed by Lithuania, Switzerland, and the UAE. The Asia-Pacific region showed strong performance, with Vietnam, Hong Kong, and others in the top 20. The report identifies three major trends reshaping the digital asset landscape: a 63% surge in the tokenization of physical assets, reaching $25.7 billion; the rise of local stablecoins as countries explore currency-backed digital assets; and a significant increase in on-chain payments, with crypto payment acceptance rising from 3% to 9.6%, dominated by stablecoins.