MENA Crypto Transaction Volume Reaches $350B, Led by Saudi Arabia's 154% Growth

Middle East and North Africa crypto transaction volume is closing in on $350 billion, according to Bitcoin Policy Institute data reported by Crypto Briefing. The region processed roughly $100 billion in on-chain crypto transactions three years ago around 2023. Saudi Arabia is posting a 154% annual growth rate and now leads regional expansion, while stablecoins account for 45% to 52% of all crypto activity across MENA. Per Crypto Briefing's reporting, 93% of Saudi Arabia's crypto transaction volume comes from transfers exceeding $10,000, a threshold associated with institutional or large holding transfers rather than consumer transactions. This concentration stands in contrast to retail-heavy markets and aligns with reports of sovereign and institutional capital flows into the region's crypto infrastructure. Turkey dominates MENA in raw transaction volume, with Turkish crypto activity approaching $200 billion annually by a wide margin, according to Crypto Briefing. Currency instability has been a driver: the Turkish lira has been in a prolonged depreciation spiral, pushing residents toward dollar-denominated stablecoins. Egypt faces similar currency pressures that have nudged everyday users toward crypto rails. The United Arab Emirates is approaching $53 billion in annual transaction volume as of 2025, per Crypto Briefing's reporting. That volume is driven largely by institutional capital and a regulatory environment deliberately designed to attract crypto businesses. Dubai's VARA framework and Abu Dhabi's ADGM have become reference points for other jurisdictions regulating digital assets. Saudi Arabia, Bahrain, and Qatar have all taken steps toward establishing clearer frameworks for digital asset activity. Stablecoins' dominance across MENA outpaces Bitcoin's share of regional volume. Chainalysis data covering July 2023 through June 2024 pegged MENA's total crypto transaction value at $338.7 billion. A January 2026 report from Fuze estimated that crypto transactions across MENA could surpass $500 billion annually.