Institutional investments in crypto transactions in the MENA region surged to $338.7 billion in 2023 and 2024, driven by Saudi Arabia and the UAE.
Bitpanda Technology Solutions, a leading digital asset infrastructure provider, has released data indicating that 93 per cent of the crypto value transferred in the region consists of transactions of over $10,000, emphasising the institutional activity in the MENA region.
The UAE received over $30 billion in crypto during this period and was ranked among the top 40 countries globally. Saudi Arabia remains the fastest-growing crypto economy in the MENA region with 154 per cent year-over-year growth.
Data also shows the growing dominance of stablecoins, which now represent 65 per cent of crypto transactions across the region, surpassing Bitcoin.
Nadeem Ladki, Global Head of Bitpanda Technology Solutions, was confident that UAE’s recent announcement of new tax regulations aimed at enhancing compliance and governance will further bolster institutional confidence in the region’s crypto market.
“The continued growth of crypto in the MENA region, particularly in Saudi Arabia and the UAE, underscores the rising institutional interest in this evolving market,” said Ladki.
“Our infrastructure, offering over 450 crypto assets and regulatory-compliant services, supports these trends, allowing institutions to participate seamlessly in this exciting space.
“The UAE’s forward-thinking policy reforms, as exemplified by recent tax law announcements, will only enable further industry growth in the foreseeable future.”
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