The Middle East and North Africa (MENA) region is entering a new phase in the digital assets market, with cryptocurrency activity recording significant growth across several major economies.
Saudi Arabia emerged as one of the region’s fastest-growing crypto markets, with the value of cryptocurrency transactions linked to the kingdom increasing by approximately 154% year over year between July 2023 and June 2024, according to data from blockchain analytics firm Chainalysis. Qatar followed with growth of around 120% during the same period.
Across the wider MENA region, approximately $338.7 billion in cryptocurrency value was received on-chain between July 2023 and June 2024, highlighting the growing role of digital assets across the region.
More recent Chainalysis data points to further expansion. During the 12 months ending in June 2025, cryptocurrency activity across the region exceeded $500 billion, representing annual growth of roughly 33%.
The difference between figures such as $338.7 billion and more than $500 billion reflects changes in the measurement period, countries included in the analysis and the methodology used to calculate blockchain activity. As a result, the figures should be viewed within their respective reporting frameworks rather than as conflicting estimates.
The broader trend, however, points to continued expansion of digital asset activity across MENA. Saudi Arabia and Qatar have recorded particularly strong growth rates, while the UAE and Türkiye remain important markets because of their scale and wider role in the region’s digital asset ecosystem.
As regulatory frameworks, institutional participation and consumer adoption continue to develop, the MENA region is becoming an increasingly significant market to watch in the global digital assets economy.
