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India-based crypto users route most centralized exchange inflows abroad
Chainalysis estimates India-based users sent $88.4 billion in centralized-exchange inflows during Chainalysis’s July 2025 to June 2026 reporting window.
Chainalysis’s regional report finds that despite substantial crypto activity from India-based users, India’s domestic centralized exchanges capture just a small share of exchange inflows, at 0.7% of exchange value.
By contrast, the report’s Brazil chapter estimates that Brazil-based exchanges received 12.5% of inflows, highlighting how the country associated with user activity can differ from where exchanges based in that country capture it.
Chainalysis publishes these findings in regional chapters dated Sept. 30 for its CSAO chapter and Sept. 23 for its Latin America chapter, with its main annual reporting window running from July 2025 through June 2026.
In that same period, Chainalysis attributes $88.4 billion in centralized-exchange inflows to India-based users during the annual window, suggesting the transactions can reach platforms based abroad.