MENA Region Sees Crypto Adoption Soar Amid Geopolitical Uncertainty
The Middle East and North Africa (MENA) region has seen a significant surge in crypto adoption, with on-chain transaction volume tripling to an estimated $350 billion by 2025-2026. Turkey remains the largest market, processing around $200 billion annually, while Saudi Arabia recorded the fastest growth at 154% year over year.
The region's expansion is driven by a mix of factors, including regulation and institutional participation in wealthier Gulf states, and the use of bitcoin and dollar-backed stablecoins as a hedge against currency depreciation and conflict. The UAE handled about $150 billion in crypto transactions last year, with bitcoin accounting for 38% of trading activity.
The Bitcoin Policy Institute notes that the region is no longer driven by one type of user, but rather a diverse range of participants. This points to the operational resilience of digital assets during regional conflict, as seen during the Israel-Iran conflict in June 2025 when capital rotated out of higher-risk altcoins and into bitcoin.