MENA Crypto Volume Hits $350B as Gulf Markets Accelerate
The Middle East and North Africa (MENA) region is rapidly growing as a digital asset market, with an estimated annual onchain transaction volume of $350 billion by 2025-2026.
Turkey remains the largest regional market, with nearly $200 billion in annual transaction value, driven largely by its use as a store of value during periods of lira weakness.
The Gulf markets, however, are accelerating at a faster pace, led by Saudi Arabia's 154% year-over-year growth rate, followed closely by Qatar's 120% growth. The UAE processed approximately $150 billion in crypto transactions during 2025, with a mix that points towards more diversified demand.
The Gulf markets' growth is driven by institutional participation and government-backed digital transformation, whereas other countries in the region are using digital assets as an alternative financial rail due to economic or geopolitical instability.