The cryptocurrency trading landscape in the Middle East and North Africa is experiencing a significant surge amidst ongoing regional conflicts. According to a recent report by the Bitcoin Policy Institute (BPI), investors in the region are turning to digital assets as a means of safeguarding their wealth during times of disruption, rather than fleeing the area. This has led to the Middle East emerging as one of the fastest-growing regions for cryptocurrency adoption.
The report highlights that annual on-chain transactions have seen a substantial increase, rising from around $100 billion in 2022 to an estimated $350 billion by 2025-2026. This growth is particularly noteworthy as regional conflicts typically result in capital outflows. However, in the case of the Iran conflict, there was a notable shift towards digital assets, with cryptocurrencies like Bitcoin being seen as a hedge against economic and geopolitical uncertainty.
During the initial stages of the Israel-Iran conflict in June 2025, the cryptocurrency markets mirrored the behavior of other global risk assets. Bitcoin dominance increased to 64.8 percent as traders moved away from riskier altcoins. Despite the turmoil, the Gulf’s regulated digital asset ecosystem continued to operate seamlessly, unlike traditional stock exchanges that were forced to shut down.
Turkey leads the region in terms of overall trading volume, with nearly $200 billion transacted annually. The UAE follows closely behind, processing around $150 billion in 2025. Saudi Arabia experienced the fastest growth rate at 154 percent year-on-year, with Qatar not far behind at 120 percent. In Egypt, peer-to-peer Bitcoin trading volumes surged by over 300 percent following currency devaluations.
These trends underscore how conflicts are shaping the digital asset landscape in the Middle East and North Africa, with regulated centers in the Gulf attracting institutional investments. The region’s maturity in the digital asset space is accelerating, signaling a growing acceptance and adoption of cryptocurrencies.
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Source: Midjourney
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