For the fourth consecutive year, Adan is publishing the results of its annual study dedicated to crypto assets and the Web3 industry in France and Europe. Conducted in partnership with Deloitte and Ipsos.

True to its initial ambition, this study aims to track the evolution of crypto asset adoption by the general public and analyze the dynamics of Web3 sector companies, their ambitions, needs, and perspectives.

Study Methodology

The 'adoption' aspect of crypto assets was evaluated through a survey conducted in January 2025 with 2,000 French individuals aged 18 and over. Samples of approximately 1,000 respondents were formed in five other European countries: Germany, Italy, the Netherlands, the United Kingdom, and, new this year, Belgium.

The industry data is based on a questionnaire and interviews conducted with 82 French and European Web3 companies. This survey provides a precise overview of market trends, access to financing, professional uses of Web3, and structural issues, particularly banking and regulatory challenges."

Adoption of Crypto Assets by the General Public

After three years of continuous growth, 2024 marks a stabilization phase for adoption in France: 10% of French people currently hold crypto assets. This does not undermine the growing public interest. Indeed, 33% of French people plan to acquire crypto assets in 2025 (+10 points compared to 2023), confirming a trend of democratization.

Holders are generally diversified investors, combining crypto assets with traditional savings products. The sector is gaining legitimacy, particularly due to the rise of new access channels like Revolut, which has become the second-largest acquisition platform (24% of users).

Use cases are multiplying: decentralized digital identity (48% favorable opinions), payments (24%), and decentralized finance (22%). These perspectives reinforce the perception of crypto assets beyond mere investment.

France also stands out on the European stage. Although it shows a slight decline in crypto asset adoption compared to other countries like the United Kingdom (19%), the Netherlands (17%), or Belgium (17%) where the trend is stabilizing or increasing, interest in cryptocurrencies is growing by 10 points, reaching 33%, just behind Italy (37%).

'While the adoption of crypto assets is stabilizing after several years of growth, public interest remains strong and Web3 use cases continue to develop. Meanwhile, companies in the sector are showing solid ambitions and great resilience, despite persistent challenges related to financing and access to banking services.'

Laurent Ovion, President of Adan"

State of the Web3 Industry

Despite an uncertain economic context, the Web3 industry demonstrated resilience in 2024. After a slowdown in 2023, French companies in the sector are on the move again: 62% operate internationally, and 76% plan to hire in 2025.

Access to financing remains a crucial issue: 65% of companies have already raised funds. This raises important questions for the sovereignty and structuring of the French ecosystem. At the European level, the Web3 industry raised €2.1 billion in 2024, accounting for 21% of global sector financing. The United States maintains its dominant position with €4.6 billion raised, representing 47% of global investments.

Professional uses are diversifying: decentralized finance, tokenization, traceability, payments, identity, etc. The regulatory framework, particularly with the entry into force of the MiCA regulation in 2024, brings more clarity. However, obstacles persist, particularly in taxation and access to banking services.

'Strengthening our European sovereignty in financing is not just an economic issue: it is an essential condition for building a strong and sustainable Web3 industry. In 2024, only 32% of funds for European startups came from Europe, compared to 73% from domestic sources in the United States.'

Marie-Line Ricard, Global FSI Blockchain & Web3 Leader, Deloitte