Overview
- A Bitcoin Policy Institute report estimates on‑chain transaction volume across the Middle East and North Africa reached about $350 billion for 2025–2026, roughly triple the region’s 2022 level.
- Turkey remains the largest market by transaction value at about $200 billion, a figure driven largely by residents using dollar‑pegged stablecoins to hedge against lira depreciation.
- Chainalysis data reused in the report shows Saudi Arabia recorded the region’s fastest percentage growth at 154% year‑over‑year with 93% of its volume coming from transfers above $10,000, signaling mostly institutional flows.
- Estimates for markets differ by method: the UAE is variously reported near $56 billion for 2024–2025 by Chainalysis and about $150 billion in the institute’s estimate, showing how data choices change headline totals.
- Regulatory moves are shaping next steps: Bahrain issued a Stablecoin Issuance and Offering Module in July 2025 and Gulf financial centers have built licensing and custody routes that could lock in institutional activity, even as on‑chain measures can overstate real economic use because they count repeated transfers between exchange wallets.