According to BlockBeats, Chainalysis' latest report shows that the Middle East and North Africa accounted for 7.5% of global cryptocurrency trading volume between July 2023 and June 2024, with a total transaction volume of US$338.7 billion. The report pointed out that 93% of the transactions were over US$10,000, mainly driven by institutions and professional investors.

The UAE and Saudi Arabia have shown a high interest in decentralized platforms, and the UAE has rapidly emerged as a global cryptocurrency center with clear regulations and a forward-looking attitude. The Dubai Court of First Instance ruled that cryptocurrencies can be used as a legal payment method for employment contracts, further promoting on-chain activities in the region.