UAE Tops MENA Crypto Adoption And Ranks 5th Worldwide – Report

The report identifies the UAE as the region’s most advanced market for digital assets, citing its growing role in asset tokenisation pilots and settlement systems. It also describes the country as an important bridge between Asia, Europe and Africa in the development of tokenised finance.

UAE leads MENA in crypto adoption

Globally, the UAE ranks 5th in crypto adoption, alongside Singapore in first place, followed by the United States, Lithuania and Switzerland. The report attributes the UAE’s position to a combination of regulatory clarity, institutional participation and strong user engagement, including one of the highest rates of crypto penetration worldwide.

According to the findings, the UAE has adopted a policy-first approach to digital assets, supported by clear anti-money laundering requirements and legal frameworks for virtual asset service providers. This regulatory environment has helped attract both international talent and crypto-focused enterprises, reinforcing the country’s status as a regional centre for innovation in digital finance.

Saudi Arabia is also highlighted as an emerging player within the region. The report notes that the kingdom has been strengthening its digital asset infrastructure and expanding licensing regimes, with high levels of crypto ownership and public interest indicating growing demand. In North Africa, countries such as Morocco are cited for strong grassroots adoption, despite operating under more restrictive regulatory conditions.

Policy-first approach boosts adoption

The report characterises MENA as a hybrid region where institutional leadership and bottom-up adoption coexist. On one side are regulated hubs such as the UAE, where governments actively support digital asset development. On the other are economies facing inflation, capital controls or limited access to traditional banking, where cryptocurrencies are increasingly used as alternative financial tools.

While regulatory frameworks and infrastructure remain uneven across much of the region, the report suggests that rising demand, particularly among younger users, could drive rapid growth if supported by clearer policies and stronger financial systems.

Michelle Daura, MENA Regional Manager of Bybit, said: “Bybit is honoured to contribute to Dubai’s remarkable rise as the UAE pioneers the future of crypto innovation and regulation. As one of the first exchanges establishing our headquarters here, being the first exchange to secure the Virtual Asset Platform Operator Licence from the SCA, as well as serving as advisor to our partners at DMCC, Bybit is committed to the region’s growth as a global crypto hub.”

The report concludes that the UAE’s approach positions it as a central player in the next phase of digital asset development, particularly as tokenisation and regulated crypto services continue to expand globally.