UAE’s Crypto Sector Growth and Diversification Efforts

In February, the daily average of crypto traders in the UAE surpassed 500,000, showing a 51% year-on-year growth from 2023, with the UAE leading regional crypto adoption with a 68% YoY increase in daily traders. Bitpanda, a notable European crypto platform, has expanded into the UAE, anticipating sector revenues to grow by 7.89% annually, reaching $395.80 million by 2028, up from $292.10 million in 2024. Walid BenOthman, Managing Director of Bitpanda in the UAE, emphasizes the nation’s strategic integration of cryptocurrency as part of its broader diversification from oil, aiming to position itself as a global crypto hub. Bitpanda has achieved significant milestones, including a record AED400 million revenue in Q1 2024 and reaching 5 million users by Q2, supporting the UAE’s efforts to attract millions of digital asset investors.