The Crypto Landscape in MENA Is Dominated by Institutional Transactions
93% of the total cryptocurrency value exchanged in the MENA area today consists of institutional-sized transactions worth more than $10,000. This domination highlights how institutions are becoming more interested in cryptocurrencies, especially in Saudi Arabia and the United Arab Emirates. A growing emphasis on stablecoins caused institutional investments in the area to climb to $338.7 billion between 2023 and 2024.
Saudi Arabia and the UAE: Important Figures in the Development of Crypto
The UAE and Saudi Arabia are now leading the region in the adoption of cryptocurrencies. With more than $30 billion in cryptocurrency transactions during this time, the UAE was one of the top 40 countries in the world. Saudi Arabia, on the other hand, established themselves as the MENA region’s fastest-growing crypto economy with an astounding 154% year-over-year increase. With 65% of all cryptocurrency transactions, stablecoins have overtaken Bitcoin as the dominant market in the area.
Regulatory Advancements Strengthen Institutional Trust
The new tax laws in the UAE are intended to improve governance and compliance while fostering an open investment climate. Institutional trust in the cryptocurrency market is further reinforced by these policy changes, which are in line with the UAE’s goal of becoming a worldwide financial center.
The Contribution of Bitpanda to the Growth of Crypto
The importance of MENA’s cryptocurrency expansion, especially in Saudi Arabia and the United Arab Emirates, was emphasized by Nadeem Ladki, Global Head of Bitpanda Technology Solutions. Institutional players can participate easily thanks to Bitpanda’s infrastructure, which supports over 450 cryptocurrency assets and services that comply with regulations.
“The UAE’s forward-thinking policy reforms, such as new tax laws, pave the way for sustained growth in the crypto industry,” Ladki stated.
Financial Institutions’ Modular Solutions
Partners of Bitpanda Technology Solutions have access to a wide variety of digital assets, such as commodities, equities, ETFs, and stablecoins. Modern APIs or white-label integration are used to supply these solutions, guaranteeing a three-month deployment time.
Bitpanda Technology Solutions: An Overview
One of the top “Investing-as-a-Service” platforms is Bitpanda Technology Solutions, which provides regulated trading, investment, and custody services for stocks, ETFs, precious metals, and cryptocurrencies. FinTechs, conventional banks, and online platforms can easily create bespoke products thanks to its ISO 27001-certified infrastructure.
