Bitcoin Gains Ground in MENA Region as Crypto Volume Triples to $350 B

Annual on‑chain transaction volume across the Middle East and North Africa (MENA) has risen from roughly $100 billion in 2022 to an estimated $350 billion by 2025‑2026, according to the Bitcoin Policy Institute.

Regional Leaders and Growth Rates

Turkey remains the largest market, processing close to $200 billion annually. The United Arab Emirates handled about $150 billion in 2025, while Saudi Arabia posted the fastest year‑over‑year growth at 154 %. Qatar followed with a 120 % increase.

Two Diverging Adoption Stories

In wealthier Gulf states, regulatory frameworks and institutional participation are driving adoption. The UAE, Bahrain, Saudi Arabia and Qatar are building regulated digital‑asset markets as part of broader economic diversification plans.

Conversely, in economies facing sanctions, conflict or currency depreciation—such as Egypt, Turkey, Lebanon and Iran—bitcoin and U.S.‑dollar stablecoins are being used to preserve value. Peer‑to‑peer bitcoin trading in Egypt rose more than 300 % after successive devaluations of the Egyptian pound.

Impact of Geopolitical Conflict

The Israel‑Iran conflict in mid‑2025 showed an initial dip in crypto prices, with the overall market falling about 3.7 % and bitcoin down roughly 2.3 %. However, as the conflict persisted, capital rotated from higher‑risk altcoins into bitcoin, pushing BTC dominance to 64.8 %, its highest level at the time.

Asset Mix in the Gulf

In the UAE, bitcoin accounts for about 38 % of crypto trading activity, ether 22 %, and dollar‑backed stablecoins roughly 30 %.

Implications

Geopolitical shocks may initially depress bitcoin prices, but the region’s experience suggests crypto can serve as a portable, continuously traded financial infrastructure for users facing war, inflation or currency stress.