Bitcoin - MENA Region Scenario
Vast deserts riddled with oil wells and camels are the first things that comes to our mind when we hear about the Middle East. Middle East in general refers to the MENA region (Middle East and North Africa). MENA is a confluence of nations spread across two different continents, consisting of people from various economic strata. On one side we see the flashy cities and riches belonging to the sheikhs and rich foreign expats while on the other side there are the migrant blue collar working class and people living well below the poverty line with limited resources, both economic and natural....
Related News
The Bitcoin (and crypto market in general) in the Middle East and North Africa (MENA) region is the fastest growing in the world, according to a report released by data platform Chainalysis. Countries that are part of MENA are Algeria, Bahrain, Egypt, Iran, Iraq, Israel, Jordan, Kuwait and Lebanon. Other nations within the region include […]
Of the $566 billion in cryptocurrency transaction volume for the Middle East and North Africa (MENA) region between July 2021 and June 2022, nearly 40% went to Turkey, which kept its place as the region’s biggest cryptocurrency market, according to the latest Chainalysis data. In Afghanistan, the Taliban’s takeover has seen the value of cryptocurrencies sent to the country drop from a peak of $68 million to less than $80,000 per month. Turkey Cements Position as MENA’s Biggest Crypto Market According to the latest Chainalysis data, the volume of cryptocurrency....
From institutional crypto usage in the United Arab Emirates to remittance payments in the Egyptian market, the last year revealed major growth for crypto in the MENA region. Emerging markets continue to forge their way into the crypto scene finding a plethora of use cases, especially in the combined Middle East and North Africa (MENA) region. A new report from Chainalysis reveals that the crypto market in the MENA region is the fastest growing in the world. Transaction volume in the MENA region reveals users received $566 billion in crypto in the time frame of July 2021 to June 2022. This....
The exchange alleges a 49% increase in user sign-ups across the Middle East and Northern Africa (MENA) region. Blockchain exchange Binance has reported an increase in user growth across the Middle East and Northern Africa (MENA) region, alleging a 49% surge in user sign-ups so far in 2022. According to the exchange, this growth indicates an increasing interest in virtual assets supported by progressive government initiatives. This could enable regulated businesses to enter the space, thereby raising awareness and driving adoption. To scale its product in the MENA region, Binance has....
The Middle East and North Africa (Mena) region is being slow to adopt fintech services, putting them behind other nations who are embracing the sector, experts have said at a recent conference. Speaking at the Dubai International Finance Centre (DIFC) were Mustafa Adil, Thomson Reuters’ Head of Islamic Finance – Mena and Dr Jarmo Kotilaine, Chief Economist of the Bahrain Economic Development Board. According to a report from Thomson Reuters, worldwide fintech funding amounted to $25.8 billion in 2015. There was an average investment of $44 million per company compared to a typical startup....