MENA on-chain crypto volume triples to $350 billion
On-chain transaction volume across MENA reached $350 billion, more than three times 2022 levels, driven by nearly $200 billion in Turkey and rapid growth in Saudi Arabia (154%) and Qatar (120%). Gulf states are treating tokens as sovereign infrastructure, launching tokenization projects, CBDC pilots and unified regulation that have attracted banks and institutional trading. Outside the Gulf, households in Turkey and Egypt use stablecoins and Bitcoin to protect savings amid currency depreciation. Immediate consequences include faster institutional adoption, expanded stablecoin use across the region, and growing infrastructure that could reshape cross-border settlement and public finance.
MENA on-chain volume reached $350 billion with broad institutional and retail roles
Context
On-chain volume in MENA rose sharply since 2022. Gulf states moved to embed crypto into state finance. Households in Turkey and Egypt shifted into stablecoins and Bitcoin to protect savings.
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