Mena region is ‘world’s fastest-growing cryptocurrency market’ – The National

Mena region is ‘world’s fastest-growing cryptocurrency market’ – The National

The Middle East and North Africa region is the fastest-growing cryptocurrency market in the world, accounting for 9.2 per cent of global digital currency transactions from July 2021 to June 2022, according to a report by blockchain data platform Chainalysis.

Individual investors in the Mena region received $566 billion in cryptocurrencies during the period, an annual increase of 48 per cent, Chainlysis said in its 2022 Global Crypto Adoption Index, which was dominated by emerging markets.

Global crypto adoption levelled off in the past year after growing consistently since mid-2019. However, it has remained well above its pre-bull market levels in 2019, the research found.