MENA Crypto Trading Surges to $350 Billion a Year; Saudi Growth Hits 154%

The cryptocurrency market in the Middle East and North Africa is expanding rapidly, with annual on-chain transaction volume reaching about $350 billion.

Wu Blockchain reported on September 6 that the Bitcoin Policy Institute estimated the MENA region's annual on-chain cryptocurrency transaction volume had risen from about $100 billion in 2022 to about $350 billion in 2025-2026. It said the region is now one of the world's fastest-growing cryptocurrency markets.

Turkey remained the region's largest market, with annual transaction volume of about $200 billion. The United Arab Emirates' cryptocurrency transaction volume reached about $150 billion in 2025.

Saudi Arabia stood out on growth. The kingdom's cryptocurrency transaction volume jumped 154% from a year earlier, the fastest rate in the MENA region. Qatar followed with a 120% increase over the same period.

The Bitcoin Policy Institute said the factors driving cryptocurrency demand vary across the region. In some countries facing conflict or currency depreciation, Bitcoin and dollar-based stablecoins are used as stores of value. In the Gulf states, clearer regulatory frameworks and broader institutional participation are helping the region emerge as a key hub for the digital-asset industry.