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Blockchain Inquiry: How Technology is Shaping MEA Finance

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by A1

17 hours ago


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.

Nearly 2,000 leaders from global financial institutions and enterprises participated, including over 200 from the United Arab Emirates, Saudi Arabia, and Turkey.Reece Merrick

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.

Within just a few short years, by 2025, blockchain will be deeply entrenched into the financial systems of the Middle East North Africa region, radically transforming the nature of finance in Saudi Arabia, Bahrain, Qatar, and beyond.Reece Merrick

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.

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