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...

  The chairman of Belobaba, a crypto native hedge fund with a regulated security token, believes that Banks will become Dapps, and that this was the year of building crypto not a bearish year. Five year old, Belobaba utilizes big data and AI in its investment decisions… The company is currently setting up its headquarters in the UAE as it seeks to get regulated in GCC region. The hedge fund is already regulated by the Gibraltar Financial services commission and operating legally in the USA, as well as in Spain and Estonia. Lluís Mas, chairman at BELOBABA spoke to LaraontheBlock expressing his views on the crypto market,the banking sector and why they are setting up their headquarters in UAE. The hedge fund which currently has just $5 million under management is seeking to grow and expand. According to Mas, “I don’t consider it a bad year for crypto and I wouldn’t call it a bullish or bearish market, because just remember in the bearish markets of 2017-2019 Uniswap was created...