Ripple's survey highlights the growing adoption of blockchain in the financial sectors of the Middle East and Africa.
Blockchain Payments: A New Normal
Ripple's 2024 New Value survey reveals that over half of financial leaders in the MEA region are initiating blockchain-based payments. Reece Merrick, Ripple's MEA head, shared on social media that nearly 2000 leaders from global financial institutions and enterprises participated, including over 200 from the UAE, Saudi Arabia, and Turkey.
Potential of Digital Assets
42% are interested in buying, selling, and trading digital assets like tokenized securities. Merrick notes that 42% see trading other digital asset types as a key priority.
The Future of Blockchain: Looking Ahead
By 2025, Ripple envisions blockchain deeply embedded in the banking systems of Saudi Arabia, Bahrain, Qatar, and Morocco. This trend will lead to faster payments, secure asset management, and a more inclusive economic model.
The Middle East and Africa are on the verge of a financial transformation, with blockchain as the core driving force. The region is poised to become a global leader in digital finance.