The MENA region stands as a dynamic hub for cryptocurrency adoption, with over USD 60 bn in transactions recorded at the end of 2024 — despite economic and geopolitical tensions, according to a report from blockchain analysis firm Chainalysis. Growth has slowed down compared to last year, yet it remains strong, showing the sector’s resilience and versatility across diverse national contexts. Regional crypto adoption grew 33% y-o-y in the fiscal year 2024-2025, with Turkey, the UAE, Egypt, Jordan, and Saudi Arabia leading the regional index.

Leading the region is Turkey, with nearly USD 200 bn in annual transactions between July 2024 and June 2025 — driven by inflation and currency instability that have pushed institutions toward crypto as an alternative investment tool. However, while institutional activity remains robust in the sector in a manner that was “rarely seen in emerging markets facing similar pressures,” retail participation shrank due to affordability issues, tighter regulations, and growing speculative altcoin trading.

As for the UAE, it saw its crypto economy grow 33% y-o-y in the fiscal year to record USD 56 bn in annual transactions. It has charted a contrasting path of regulated, institutional growth, attracting major players while also witnessing a boom in merchant-level crypto use. While this growth rate is slower than the 86.4% rate seen in the previous period, “it still demonstrates steady continuity in the country’s crypto economy.”

The bigger picture: India led the 2025 Global Crypto Adoption Index, followed by the US, Pakistan, Vietnam, and Brazil.

Redefining crypto’s place in global financial systems: “As the region continues to face economic and geopolitical challenges, these adaptation patterns offer valuable insights into digital assets’ evolving role in the global financial landscape,” the report said.

MARKETS THIS MORNING-

Asian markets are mixed in early trading this morning as investors digest China’s inflation data which was released over the weekend. South Korea’s Kospi is up 2.8%, while Japan’s Nikkei and the Hang Seng are looking at more modest gains. The Shanghai Composite is flat.

ADX

10,075

+0.5% (YTD: +7.0%)

DFM

6,025

+0.1% (YTD: +16.8%)

Nasdaq Dubai UAE20

4,891

+0.6% (YTD: +17.4%)

USD : AED CBUAE

Buy 3.67

Sell 3.67

EIBOR

3.7% o/n

3.9% 1 yr

Tadawul

11,244

-0.5% (YTD: -6.6%)

EGX30

40,822

+2.2% (YTD: +37.3%)

S&P 500

6,729

+0.1% (YTD: +14.4%)

FTSE 100

9,683

-0.6% (YTD: +18.5%)

Euro Stoxx 50

5,567

-0.8% (YTD: +13.7%)

Brent crude

USD 64.04

+0.6%

Natural gas (Nymex)

USD 4.45

+3.2%

Gold

USD 4,061

+1.3%

BTC

USD 106,500

+4.4% (YTD: +13.3%)

Chimera JP Morgan UAE Bond UCITS ETF

AED 3.75

0.0% (YTD: +7.7%)

S&P MENA Bond & Sukuk

151.95

+0.1% (YTD: +8.6%)

VIX (Volatility Index)

19.08

-2.2% (YTD: +10.0%)

THE CLOSING BELL-

The ADX rose 0.5% on Friday on turnover of AED 1.2 bn. The index is up 7.0% YTD.

In the green: Phoenix Group (+11.3%), National Bank of Umm Al Qaiwain (+4.2%) and Aldar Properties (+3.6%).

In the red: Al Khaleej Investment (-9.8%), Sudatel Telecommunications Group Company (-3.0%) and Pure Health Holding (-2.2%).

Over on the DFM, the index rose 0.1% on turnover of AED 852.1 mn. Meanwhile, Nasdaq Dubai was up 0.6%.

CORPORATE ACTIONS-

Bildco approves new partner, capital share increase: ADX-listed Abu Dhabi National Company for Building Materials (Bildco) approved a capital increase and will issue new shares to its new strategic partner, Abu Dhabi Integrated Investment Holding, according to an ADX disclosure (pdf).

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