MENA crypto transaction volume reaches $350B, led by Saudi Arabia’s 154% annual growth

Three years ago, the Middle East and North Africa processed roughly $100B in on-chain crypto transactions. That number is now closing in on $350B, according to the Bitcoin Policy Institute. And the country growing fastest might surprise you: it’s Saudi Arabia, not the flashier crypto hubs of Dubai or Abu Dhabi. Saudi Arabia is posting a 154% annual growth rate in crypto transaction volume. The kingdom’s activity is overwhelmingly institutional, with 93% of transaction volume coming from transfers exceeding $10,000. Turkey leads in volume, Saudi Arabia in velocity For all of Saudi Arabia’s rapid ascent, Turkey still dominates in raw numbers. Turkish crypto transaction volume is approaching $200B annually, making it the single largest market in the MENA region by a wide margin. The Turkish lira has been in a prolonged depreciation spiral, pushing residents toward dollar-denominated stablecoins as a practical store of value. Egypt faces similar dynamics, where local currency instability has nudged everyday users toward crypto rails. The UAE’s transaction volume is approaching $53B annually by 2025, driven largely by institutional capital and a regulatory environment that has been deli...