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0 CommentsSaudi citizens took third place in the Arab world in terms of cryptocurrency owners. Egypt ranked top by the number of crypto users, while Morocco ranked second.
According to a study published by crypto analytics company TripleA, 453,000 Saudis in total own crypto assets, ranking third among the Arab countries, Saudi Gazette reported.
Egypt ranked first in the Arab world by the number of crypto users, with about 1.8 million Egyptians who own crypto. Morocco ranked second with 878,000 owners.
Pakistan took first place among the Muslim countries with 9 million owners of cryptocurrencies. According to the report, men constitute around 71% of the total dealers of cryptocurrency worldwide, while the percentage of women is 21%. Also, the share of users under 34 years of age reaches 58%, the research data showed.
As per US crypto entrepreneurs, Saudi Arabia and the UAE are rolling out a red carpet of easy cryptocurrency regulation. It’s setting up a contrast to the US, where officials tighten crypto rules.
Financial giants like Goldman Sachs CEO David Solomon and Blackstone CEO Stephen Schwarzman attended the Future Investment Initiative in Riyadh, where joined some of the biggest names in the crypto world, such as Ripple Labs CEO Brad Garlinghouse and Galaxy Digital CEO Mike Novogratz.
In the last few years, Saudi Arabia made a lot of effort to attract crypto companies. The Saudi Central Bank and Central Bank of the UAE have been working together to learn how the two banks can adopt blockchain and digital payments.
