800,000 Saudi’s used digital currencies in 2021 with the value of virtual asset transactions in Saudi at around 20 billion USD and this is expected to grow five times over the next five years. The information was shared by Ali AlObaid, Managing Director of BitOasis crypto exchange, to Arab News In the article he states, “We believe that this can grow by five times over the next five years. Last year, KSA probably represented 15 percent of Gulf Cooperation Council and Middle East and North Africa activity.” He added that around 4 percent of adult population in MENA will have invested in crypto by the end of 2022. While in the USA 20 percent of adults have invested in crypto. BitOasis user base in KSA is primarily millennials, 25-34 year old's, with 30 percent of those trading on BitOasis between the ages of 35-44 years. In a YouGov survey recently it noted that 1.8 percent of Saudi Arabian residents currently trade in cryptocurrencies. Yet it is Morocco that tops crypto own

So Now the UAE is being dubbed the Wall Street of Crypto. The terminology was first coined by no other than CZ (Zhao Changpeng) the Founder of Binance, whom a BloomBerg article noted as saying that the UAE is definitely the headquarters of Binance. This is the first time in the history of Binance where it actually announces it even has a headquarter. It would seem that the Wall Street of Crypto has ousted both France and Bahrain as the base for Binance, as well as Singapore which Binance retreated from several months ago. In the meantime Binance is actually bringing on Wall Street veterans such as Vishal Sacheendran, the former New York Mellon Bank executive who now holds the position of UAE based director for the Middle East and North Africa.   Richard Teng the head of Middle East and North Africa at Binance says more appointments from the banking sector will follow. So far the UAE has granted licenses to a handful of international and global crypto exchanges including the late