UAE sees $34bn crypto surge as Middle East becomes digital asset hub; experts forecast market
Between July 2023 and June 2024, the UAE attracted $34bn (AED124bn) in crypto inflows — a 42 per cent year-on-year surge — fuelled by strong institutional participation and a booming retail market, according to Mining Grid.
The wider Middle East saw $338.7bn in crypto inflows during the same period, marking an 11.73 per cent increase and positioning the region as the seventh-largest crypto market in the world.
Cryptocurrency in the UAE
More than 500,000 daily crypto traders are now active in the UAE, as regulatory clarity, zero capital gains tax, and a tech-savvy youth drive explosive growth.
Solaiman AlRifai, Founder and Board member, Mining Grid said: 'The UAE's clear regulations and zero capital gains tax have created the perfect environment for crypto growth. With an engaged and forward-looking population, it's no surprise the country is now seen as the crypto capital of the Arab world.'
A defining feature of the UAE's crypto rise is youth engagement. Over 74 per cent of adults aged 25–34 show active interest in crypto, and 21 per cent plan to start trading within the next 12 months.
Social platforms like TikTok, WhatsApp, and YouTube are now the leading channels for crypto discovery — highlighting the social-first, mobile-first approach of the region's young investors.
However, with nearly half of young users concerned about misinformation, the report warns of the urgent need for trusted platforms and crypto education to ensure safe and sustainable adoption.
Rami Alsridi, Founder and CEO, Mining Grid said: 'The UAE has created the ideal environment where curiosity meets clarity. We're seeing a new generation that doesn't just want to invest in crypto but wants to understand it, build with it, and lead its next chapter.
'We're also witnessing a surge in Bitcoin mining, driven by demand for decentralisation, transparency, and energy-conscious innovation.'
Other Gulf countries are also gaining crypto momentum:
Saudi Arabia leads the GCC in youth adoption and recorded a 153 per cent growth in crypto activity
Oman has invested more than $1.1bn in sustainable mining infrastructure to become a regional hub for environmentally friendly crypto operations
Bitcoin remains dominant, but Ethereum's ecosystem resilience continues to attract developers and investors alike. Stablecoins now make up 66 per cent of all on-chain transactions in the Middle East, serving as the backbone of digital value transfer.
The region is also rapidly embracing the tokenisation of real-world assets, such as real estate and bonds — a shift that is drawing heightened interest from institutional players.
Looking ahead to 2026, the Mining Grid report predicts:
Youth-led accounts will dominate new crypto onboarding by Q4 2025
Gamified, mobile-first trading platforms will rise in popularity
Gulf countries will double down on clean-energy crypto mining models aligned with long-term sustainability goals
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