MENA Crypto Boom Hits $350 Billion as Saudi Arabia Leads Charge
The Middle East and North Africa (MENA) region is experiencing rapid growth in cryptocurrency adoption, with annual on-chain transaction volume reaching approximately $350 billion by 2025-2026. According to Chainalysis data, this figure has increased from around $100 billion recorded in 2022.
Saudi Arabia leads the regional growth, with a staggering 154% year-over-year increase in crypto activity. Qatar follows closely behind with a 120% surge during the same period.
However, Turkey remains the largest market by transaction value, processing nearly $200 billion annually despite faster growth elsewhere. The country's lira depreciation and high inflation have contributed to the increased demand for cryptocurrencies as residents seek alternative investments and ways to preserve purchasing power.
The UAE is another notable example of a market built around institutional participation and regulated digital-asset businesses. Chainalysis reported more than $56 billion in transactions during 2024-2025, with large institutional transfers accounting for much of the increase.