DUBAI (Reuters) - The Middle East and North Africa are the world's fastest-growing cryptocurrency markets, with the volume of crypto received in the region jumping 48% in the year to June, blockchain researcher Chainalysis said in a report on Wednesday.
While the MENA region is one of the smallest crypto markets, its growth to $566 billion received in cryptocurrency between July 2021 and June 2022 shows adoption is rising rapidly.
(GRAPHIC: MENA countries by growth in crypto transaction volume, July 2020-June 2021 vs July 2021-June 2022 - https://fingfx.thomsonreuters.com/gfx/mkt/mopanxwllva/Mideast%20crypto%20growth.png)
Latin America saw the second biggest growth in the same period, at 40%. North America was next at 36% growth, followed closely by Central and Southern Asia and Oceania at 35% growth, Chainalysis said.
Three MENA countries are among the top 30 in Chainalysis' 2022 Global Crypto Adoption Index, with Turkey in 12th place, Egypt taking the 14th spot and Morocco 24th.
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