Bitpanda MENA Notes Substantial Rise in UAE’s Crypto Adoption

Bitpanda, Europe’s prominent crypto platform, recently expanded into the UAE as Bitpanda MENA, closely monitoring regional market dynamics. Walid BenOthman, Managing Director of Bitpanda MENA, attributes the UAE’s burgeoning crypto adoption to its progressive agenda.

Forecasts suggest the UAE’s crypto market revenue will grow by 7.89% annually, reaching $395.8 million by 2028 from $292.1 million in 2024. The Middle East, including the UAE, witnessed a 51% year-over-year increase in daily crypto traders, with the UAE leading with a 68% rise.

Walid BenOthman remarked, “The UAE’s commitment to diversification beyond oil, set over five decades ago, has paved the way for crypto integration. Initiatives like the Dubai Blockchain Strategy and DMCC Crypto Centre underscore the nation’s ambition to become a global crypto hub.”

Bitpanda MENA, buoyed by achieving AED 400 million in Q1 2024 and securing DMCC licensing, now serves over 5,000,000 users, supporting the UAE’s digital transformation journey.