In the fourth annual Chainalysis Global crypto adoption index , identifying countries where the most people are putting the greatest share of their wealth into cryptocurrency, once again Morocco takes lead and is listed as one of the top 20 countries placing an Arab country on the map, while Turkey places the MENA region. The 2023 report states that global adoption is down, but not in one crucial subset of the world. More specifically, there’s one crucial segment of countries where grassroots adoption has seen a much stronger recovery than anywhere else: Lower middle income (LMI) countries. The full report will be out in October, but compared to 2022 , the countries on the top 20 list are still almost the same.   In 2022 Turkey, Egypt and Morocco led not only in MENA   region but globally. All three countries were in the top thirty list of countries with most crypto savings, usage of crypto for remittance payments and permissive crypto regulations. As for Sub Sah...

  BingX, a cryptocurrency exchange, has introduced   Peer-to-Peer (P2P) trading services for multiple countries in the MENA region including UAE, Qatar, Jordan, Egypt, Kuwat, Saudi Arabia and Turkey. This means that trading includes fiat currencies such as   AED, DZD, EGP, JOD, KWD, QAR, SAR, MAD, TRY, and more. By opening up this feature, BingX aims to foster greater accessibility and convenience for users seeking to purchase cryptocurrencies with their local fiat currencies. According to BingX press release, this strategic move empowers merchants and users in the MENA region and Turkey to engage in direct cryptocurrency transactions with zero transaction fees. Building on its successful P2P trading services available in over 40 countries and regions with support for 300+ payment methods, BingX now extends its user-friendly and cost-effective trading experience to the MENA and Turkey market. BingX is seeking merchants in the Middle East and Turkey. "We are delighte...

  As per a recent Chainalysis blog report, MENA based crypto users received $566 billion worth of cryptocurrency in one year from July 2021 to June 2022. As per the news, this is a 48 percent increase from 2020-2021. In addition Turkey, Egypt and Morocco once again lead not only in MENA region but globally. All three countries are in the top thirty list of countries with most crypto savings, usage of crypto for remittance payments and permissive crypto regulations. These could be caused by these countries’ fiat currency devaluations and the huge remittance market in Egypt for example. This is why Egypt has become the fastest growing crypto market in 2022, while Turkey still remains the largest crypto market with its citizens receiving $192 billion. The report also notes the role of countries in the GCC (Gulf Cooperation Council), and cites the example of Saudi Arabia which is the third largest crypto market in MENA, while UAE stands at fifth largest. This is especially true...

  Animoca’s brand, the Sandbox announced during the 62 edition of the True Global Ventures Conference that it will be bringing its metaverse strategy to Dubai, with the ‘Dubaiverse’. It will work with local partners including Khaleej Times media outlet.  Animoca Brand’s Dubai-themed metaverse will follow the blueprint of its subsidiary Sandbox’s Hong Kong “Mega City,’ a gaming metaverse and virtual cultural hub based on the Asian financial hub of Hong Kong. As per the news on  Forkast , the    Dubaiverse will be built through local partnerships, In doing so, the Hong Kong-based blockchain game specialist will partner with firms in the film, music, entertainment, acting, finance, real estate, and gaming industries. Sebastien Borget, cofounder and chief operating officer (COO) of Sandbox Paris, added, “Other planned location-based metaverses are in the works for Singapore, Korea, and Turkey.” Dubai’s virtual asset regulator was the first regulator in the world to ...

  As a result of the recently launched Dubai's metaverse strategy which aims to increase the contribution of the metaverse sector to Dubai’s economy to US$4 billion by 2030 and increase its contribution to Dubai’s GDP to 1 percent, regional companies in the MENA region, specifically Turkey are flocking towards the country. Burak Soylu, CEO of Har Group, noted in a recent tweet   on the productive meeting he and his team had with UAE Minister of State for Foreign Trade, Dr. Thani Bin Ahmed Al Zeyoudi.  He stated, “We had a productive meeting with Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, about the UAE's work in the metaverse and web 3.0.” Turkish based Har Group incorporates under its wings five companies in the sector of technology, tourism, energy and agriculture and comprises over 500 employees. One of its companies is Roof Stacks, a software company that specializes in tourism systems, the metaverse, augmented reality, game developmen...