MENA Crypto Market Soars to $350B, Saudi Arabia Leads Growth

The Middle East and North Africa (MENA) region has seen a significant surge in cryptocurrency activity, with annual on-chain transaction volume reaching approximately $350 billion by 2025-2026. This growth is attributed to increased investment and wider use of digital assets.

Saudi Arabia has emerged as the fastest-growing market in MENA, recording 154% year-over-year growth, while Qatar followed with a 120% increase. Turkey remains the regional leader by transaction value, processing nearly $200 billion annually through mid-2025.

The growth figures show that crypto expansion across MENA is not concentrated in a single market or driven by one adoption model. Instead, Gulf investment, inflation pressures, regulation, and cross-border activity are shaping different markets.

Saudi Arabia's 154% growth rate came from Chainalysis data covering July 2023 through June 2024. The expansion coincided with broader investment in fintech, blockchain infrastructure, and digital payments.