MENA Crypto Volume Hits $350B as Gulf Markets Accelerate

The Middle East and North Africa (MENA) region is rapidly becoming one of the world's fastest-growing digital-asset markets. According to a recent analysis by the Bitcoin Policy Institute (BPI), MENA's annual onchain crypto volume has risen from around $100 billion in 2022 to an estimated $350 billion by 2025-2026.

Turkey remains the largest regional market, with nearly $200 billion in annual transaction value. However, the fastest growth is now concentrated in Saudi Arabia and Qatar, which have seen year-over-year increases of 154% and 120%, respectively.

The Gulf markets are driving adoption through institutional participation and government-backed digital transformation, whereas countries facing currency depreciation or sanctions are using crypto as an alternative financial rail. The UAE processed approximately $150 billion in crypto transactions during 2025, with a diversified demand mix that includes Bitcoin (38%), Ethereum (22%), and U.S. dollar-backed stablecoins (30%).

The conflict between Israel and Iran has also highlighted the role of Bitcoin and other digital assets as a safe haven for investors. As tensions escalated in June 2025, capital rotated away from higher-risk altcoins toward Bitcoin, pushing its dominance to 64.8%.