In a recent article published in CoinDesk which discussed the increase in demand for cryptocurrencies the MENA region was mentioned. According to the article investment in gold, oil, and realestate are increasing along with investment in crypto.
In the article Mr. Makram Hani, CEO of Arms & Mcgregor International Realty stated that his company is working to close a Dubai property purchase worth $140 million using multiple cryptocurrencies from a single Asian Buyer. He adds, “We have seen a significant growth in real estate transactions that have been paid for, in one way or another, with funds originating as bitcoin or other currencies.”
In addition the article also mentions Rain Crypto Exchange based in Bahrain. Mr. Yehia Badawy, Co Founder of Rain states, trading volumes increased 200 percent from January to March 2020, with 34 percent more new user signups driven by “high-volume retail.”