UAE SMEs Lead World in Digital Asset Adoption: Mastercard Report
Mastercard's research reveals that small and medium-sized enterprises (SMEs) in the UAE are among the world's most active users of digital assets for business payments. According to Mastercard's Dreamonomics report, 1 in 7 SMEs in the UAE accept cryptocurrency as payment, while 10% already pay business expenses via stablecoins.
The study surveyed over 6,000 owners and senior decision-makers of SMEs across 18 markets, including the UAE. Mark Elliott, division president at Mastercard, said, 'The findings reveal a highly ambitious SME community in the UAE, one that is embracing innovation as a practical tool for growth today.'
The report also found that nearly half (48%) of UAE SMEs are interested in AI-powered fraud and security protection from their financial provider, exceeding the global average. Two-thirds of UAE SMEs (67%) are excited about the possibilities of AI for their business.
Mastercard launched a regional resilience and support program called Built Small. Moving Strong. to help SMEs navigate rising costs, supply chain issues, and economic changes.