According to Chainalysis's 2025 MENA crypto adoption report, Turkey has emerged as the regional leader with nearly $200 billion in annual crypto transactions, significantly outpacing the UAE in second place at $53 billion. Egypt followed with approximately $48 billion, while Jordan, Saudi Arabia, and Morocco recorded lower volumes. The MENA region overall experienced a 33% year-over-year growth in crypto usage, which lags behind the Asia-Pacific region's 69% and Latin America's 63%.
Turkey's crypto growth is largely driven by challenging economic circumstances, with $878 billion in gross crypto inflows since early 2021. Institutional transactions, including those over $10 million, have seen more modest decelerations, but retail participation has declined sharply. Professional trader growth rates fell from 41.6% to just 4.1%, while small retail transactions (under $1,000) contracted by 2.3% and large retail ($1,000-$10,000) by 1.6%, indicating reduced disposable income or shifting sentiment.
A notable shift occurred in Turkey's trading patterns, with altcoin volumes surging from $50 million in late 2024 to $240 million by mid-2025, while stablecoin trading dropped to around $70 million. Chainalysis described this as 'desperate yield-seeking behavior' linked to economic pressures, such as high inflation and currency instability.
In the UAE, crypto growth slowed from 86.4% in 2023-2024 to 33% in 2024-2025, yet it remained steady with strong institutional and retail activity. Retail segments, particularly merchant services, saw extraordinary growth: small retail transactions increased by 88.1%, large retail by 83.6%, and professional transfers by 79.5%. This reflects crypto's integration into practical payments, supported by the UAE Central Bank's AED stablecoin regulations and partnerships with entities like Crypto.com and AECoin.
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