MENA Crypto Market Surges to $350B Amid Regional Divergence

The Middle East and North Africa (MENA) region has seen significant growth in its cryptocurrency market, reaching an estimated $350 billion in annual onchain transaction volume by 2025-2026. According to a recent analysis from the Bitcoin Policy Institute (BPI), Turkey remains the largest regional market with nearly $200 billion in annual transactions, while Saudi Arabia leads growth at 154% year over year.

The Gulf region presents a different picture, with adoption driven by institutional participation, financial regulation, and government-backed digital transformation. In contrast to countries facing currency depreciation or geopolitical instability, where crypto is used as an alternative financial rail, the Gulf's growth is fueled by its developing regulatory structure and infrastructure.

Saudi Arabia's 154% growth rate suggests that its model of regulated digital assets is gaining ground quickly. The next test will be whether this transaction growth converts into lasting market infrastructure, particularly institutional custody, tokenization, stablecoin settlement, and regulated trading venues capable of keeping capital inside the region.