Crypto Volume in Middle East and North Africa Reaches $350 Billion: Turkey Maintains Leadership

Annual crypto transaction volume in the MENA region has reached approximately $350 billion, with Turkey maintaining its leadership in volume, while Saudi Arabia and Qatar stood out for their growth rates.

According to Bitcoin Policy Institute data shared by Wu Blockchain, the annual on-chain crypto transaction volume in the Middle East and North Africa (MENA)—representing the total value of transfers recorded on blockchains—rose from approximately $100 billion in 2022 to approximately $350 billion in the 2025-2026 period.

The largest portion of the region’s volume came from Turkey. While Turkey’s annual crypto transaction volume approached $200 billion, a volume of approximately $150 billion was recorded in the United Arab Emirates (UAE) for 2025. Thus, Turkey became MENA’s largest market in terms of total transaction size.

Saudi Arabia and Qatar Grew Faster

Although Turkey held the volume leadership, Gulf countries stood out in terms of growth rate. Saudi Arabia’s annual crypto transaction volume increased by 154 percent, while growth in Qatar reached 120 percent. These figures showed that current scale and new growth momentum in the region are concentrated in different countries.

The report stated that conflicts and the devaluation of local currencies in some markets have increased the use of Bitcoin (BTC) and dollar-backed stablecoins. Gulf countries, on the other hand, have positioned themselves as regional digital asset hubs through regulations and expanded institutional participation. The rise in total volume in MENA brought together Turkey’s existing weight with the rapid growth of Saudi Arabia and Qatar in the same picture.