Annual crypto adoption development in Italy 2020-2023, by metric

Published by
Raynor de Best,
Nov 9, 2024
A country ranking that estimates crypto adoption based on transaction volume put Italy in the top 50 of the world for the first time in 2023. Until then, Italy's crypto adoption was considered to be relatively stable. The figure for 2022, especially, stands out as it broke a declining trend in 2021 and was likely caused by the change of the methodology to now include Decentralized Finance (DeFi) in the index. For example, Italy reached a significantly higher index score in 2022 than in 2021.

Crypto Adoption Index ranking of Italy from 2020 to 2023, by metric

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Sources

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Release date

October 2023

Region

Italy

Survey time period

July 2020 to June 2023

Special properties

Ranking (1 = highest, 146 = lowest); Weighted by purchasing power parity (PPP) per capita

Supplementary notes

All figures have been collected by Statista.

The source explains that its index is calculated using five different sub-indices, which are estimated using an individual country's cryptocurrency transaction volume in different situations. These estimates are based off web traffic patterns from individual websites that are used for such transactions and/or protocols.

Several changes were made to the source's methodology over the years. In 2022, the main change involved the inclusion of Decentralized Finance (DeFi) transaction volume. Centralized and Decentralized sub-indices both count equally to the overall index.

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Market share

7

Penetration

6

Biggest brands

7

Users

5

Transaction value

5

Number of transactions

5

Miscellaneous

7

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Topics

Digital payments landscape in ItalyMobile payments with digital walletsFintech in EuropeA2A (account-to-account) paymentsDigital payments trends across Europe
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