Cryptocurrency trading activity across the Middle East and North Africa is experiencing substantial growth amid ongoing regional conflict, according to a report from the Bitcoin Policy Institute.
Annual on-chain transactions have increased from approximately $100 billion in 2022 to an estimated $350 billion by 2025–2026. Rather than triggering capital outflows as regional conflicts typically do, investors are shifting funds into digital assets as a protective measure during periods of economic and geopolitical disruption.
During the initial stages of the Israel–Iran conflict in June 2025, cryptocurrency markets responded similarly to other global risk assets. Bitcoin dominance rose to 64.8 percent as traders moved away from riskier altcoins. Notably, the Gulf's regulated digital asset ecosystem continued operating without major disruption, even as traditional stock exchanges closed.
Regional Growth Leaders
Turkey leads the region in overall volume at nearly $200 billion annually, while the UAE processed approximately $150 billion in 2025. Saudi Arabia posted the fastest year-on-year growth at 154 percent, followed by Qatar at 120 percent.
Egypt saw particularly sharp increases in peer-to-peer Bitcoin trading volumes, which climbed more than 300 percent following successive devaluations of the Egyptian pound.
Digital Asset Maturity
These trends suggest that conflict is accelerating cryptocurrency adoption and infrastructure development across the Middle East and North Africa, with regulated Gulf centers attracting institutional investment flows.
