According to a Chainalysis report, the Middle East & North Africa (MENA) region has emerged as a significant player in the global crypto market, ranking seventh globally with $338.7 billion in on-chain value received between July 2023 and June 2024. Türkiye leads the region, driven by high consumer engagement and stablecoin adoption amidst inflation, while the UAE’s balanced ecosystem and progressive regulations foster rapid growth. Saudi Arabia and Qatar are the fastest-growing markets, with substantial year-over-year increases fueled by blockchain innovation and evolving regulatory frameworks. Institutional and professional-level activity dominates, with a strong shift towards DeFi and stablecoins, positioning MENA as a key influencer in the global crypto economy.
According to a Chainalysis report, the Middle East & North Africa (MENA) region has emerged as a significant player in the global crypto market, ranking seventh globally with $338.7 billion in on-chain value received between July 2023 and June 2024. Türkiye leads the region, driven by high consumer engagement and stablecoin adoption amidst inflation, while the UAE’s balanced ecosystem and progressive regulations foster rapid growth. Saudi Arabia and Qatar are the fastest-growing markets, with substantial year-over-year increases fueled by blockchain innovation and evolving regulatory frameworks. Institutional and professional-level activity dominates, with a strong shift towards DeFi and stablecoins, positioning MENA as a key influencer in the global crypto economy.