Web 3 and Crypto in France and Europe: Toward Sustainable and Institutional Adoption (2025 Edition)
For the fourth consecutive year,Adan is releasing the results of its annual study on crypto-assets and the Web3 industry in France and Europe. The study was conducted in partnership with Deloitte and Ipsos.
In line with its original objective, this study aims to track the evolution of crypto-asset adoption among the general public and analyze the dynamics of Web3 companies, including their ambitions, needs, and outlook.
Study Methodology
The adoption of crypto-assets was assessed through a survey conducted in January 2025among 2,000 French residents aged 18 and older.Samples of approximately 1,000 respondents were collected in five other European countries: Germany, Italy, the Netherlands, the United Kingdom, and, new this year, Belgium.
The industry data is based on aquestionnaire and interviews conducted with 82 French and European Web3 companies. This survey provides a detailed overview of market trends, access to financing, professional uses of Web3, and structural challenges, particularly in the banking and regulatory sectors.
Adoption of crypto-assets by the general public
After three years of steady growth, 2024 marks a period of stabilization in adoption in France:10% of French people currently hold crypto-assets. This does not call into question the public’s growing interest. In fact,33% of French people plan to acquire them in 2025 (+10 percentage points compared to 2023), confirming a trend toward wider adoption.
Holders are generally diversified investors who combine crypto-assets with traditional savings products. Thesector is gaining legitimacy, particularly thanks to the rise of new access channels such as Revolut,which has become the second-largest acquisition platform (24% of users).
The range of use cases is expanding: decentralized digital identity (48% in favor), payments (24%), and decentralized finance (22%). These developments are reinforcing the perception of crypto-assets as more than just an investment.
France also stands out on the European stage. While it has seen a slight decline in crypto-asset adoption—unlike other countries such as the United Kingdom (19%), the Netherlands (17%), or Belgium (17%), where the trend is stabilizing or increasing, interest in cryptocurrencies has risen by 10 percentage points, reaching 33%, just behind Italy (37%).
"While the adoption of crypto-assets has entered a stabilization phase after several years of growth, public interest remains strong and Web3 applications continue to expand. At the same time, companies in the sector are demonstrating strong ambitions and considerable resilience, despite ongoing challenges related to financing and access to banking services."
Laurent Ovion, President of ADAN
An Overview of the Web3 Industry
Despite an uncertain economic climate, the Web3 industry has shown resilience in 2024. Following a slowdown in 2023, French companies in the sector are back on the offensive: 62% operate internationally, and 76% plan to hire in 2025.
Access to funding remains a critical issue: 65% of companies have already raised capital. This raises important questions regarding the autonomy and structure of the French ecosystem. At the European level, the Web3 industry raised €2.1 billion in 2024, accounting for 21% of global funding in the sector. The United States maintains its dominant position with €4.6 billion raised, representing 47% of global investments.
Professional applications are diversifying: decentralized finance, tokenization, traceability, payments, identity, and more. The regulatory framework, particularly with the entry into force of the MiCA regulation in 2024, is providing greater clarity. Nevertheless, obstacles remain, particularly regarding taxation and access to banking services.
"Strengthening our European sovereignty in the area of financing is not just an economic issue: it is an essential prerequisite for building a strong and sustainable Web3 industry. In 2024, only 32% of funding for European startups came from Europe, compared to 73% from domestic sources in the United States."
Marie-Line Ricard, Partner and Global FSI Blockchain & Web3 Leader, Deloitte
