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Blockchain data platform, Chainalysis has revealed that the cryptocurrency markets in North Africa and the Middle East are experiencing the fastest growth across continents.
The report was contained in an expert from its upcoming report titled the”2022 Geography of Cryptocurrency Report”.
The report studied the performance of cryptocurrency across all regions of the world.
According to the report, the region has experienced a 48 percent growth increase since last year.
This is in addition to the combined transaction amounting to $566billion in cryptocurrency between July 2021 and June 2022 in both regions.
Commenting on the report, Kim Grauer, director of research at Chainalysis said “In recent years, we have seen the UAE government introduce pioneering regulations that are helping accelerate the adoption and utilization of cryptocurrencies in the country. Dubai has become a hub for crypto companies that serve customers not just in the Middle East, but all across Asia and Africa.”
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