MEXC Research: 81% of Global Privacy Coin Trading Volume Originates from MENA, CIS, and Southeast Asia
In Brief
The Global Privacy Asset Report 2025 by MEXC Research shows a massive surge in privacy-focused cryptocurrencies, driven largely by emerging markets, with trading volumes, institutional activity, and stablecoin conversions into privacy coins reaching record levels.
The Global Privacy Asset Report 2025, released by MEXC Research, highlights that 2025 has marked an unprecedented resurgence of privacy-focused cryptocurrencies. Amid a sharp pivot in market sentiment, 2025 is fast emerging as the year in which cryptocurrency investors reclaim privacy, challenging policymakers to rethink an era defined by transparency mandates, stringent KYC rules and exhaustive transaction-tracking regimes. The Global South is powering much of this surge, with privacy coins emerging as a practical solution to routine payment hurdles, unstable currencies and increasingly stringent financial controls.
Key Takeaways
- 81% of global privacy coin trading volume comes from the MENA, CIS, and SEA regions.
- Institutional privacy coin activity grew 210% in Q4; MENA accounts for 11% of all institutional XMR/ZEC transactions.
- 1 in 5 privacy coin traders converted USDT or USDC into privacy assets in H2 2025
- DASH and ZEC trading volumes rose 2,621% and 4,205%, respectively, in Q4; XMR remains dominant, accounting for 93% of total trading volume.
- Privacy assets are becoming an alternative to traditional financial instruments that are affected by inflation, currency controls, and payment restrictions.
The privacy coin sector has expanded 335% year-to-date, far outpacing the broader crypto market’s 20% growth. Total market capitalization exceeded $34 billion in November, placing privacy assets close to mainstream narrative categories such as memecoins and real-world assets.
MEXC’s trading data shows that MENA, CIS, and Southeast Asia account for 81% of global privacy coin trading. These regions experience the highest levels of new wallet usage, P2P payments, and cross-border settlement activity involving private assets. The CIS region now leads the global usage chart, with privacy asset transactions increasing from 23 million to 104 million per month in H2 2025. Economic instability, inflation, and restricted access to international banking channels push users towards the alternatives. In MENA, institutional engagement has accelerated. Large-value transfers involving XMR and ZEC accounted for 11% of all institutional crypto transactions in Q3–Q4, significantly higher than in Latin America (6%), the CIS (4%), and SEA (2%).
Monero remains the sector’s centre of gravity— capturing 93% of all trading volume and 72% of users. Around it, the sector experienced a dramatic surge in Q4: DASH trading volumes jumped 2,621%, ZEC soared 4,205%, and active traders in both markets increased by more than 400%.
Stablecoin capital is increasingly flowing into privacy assets. Roughly 1 in 5 privacy coin traders converted USDT or USDC into private alternatives, reflecting growing concern over reporting requirements, FATF Travel Rule expansion, and stricter monitoring of stablecoins.
“Privacy tokens are evolving into a parallel financial layer, restoring crypto’s original premise by placing privacy back at the centre. Their rapid adoption across emerging markets reflects a wider global sentiment: people want choice, protection and autonomy in how they transact. Coupled with rising de-dollarisation and momentum across the TON ecosystem, the privacy-asset sector is set for further expansion into 2026, driven not by market cycles but by macroeconomic realities,” said Vugar Usi, COO of MEXC.
The full MEXC’s Global Privacy Asset Report 2025 is available at the link.
About MEXC
Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 40 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
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About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
More articles
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
