The UAE continues to lead the MENA region in cryptocurrency adoption, with a notable 42 percent increase this year. This growth has introduced a modern twist to the beloved tradition of Eidiya, which involves gifting money to younger family members during Eid al-Fitr. The practice is being reimagined in the digital age, allowing recipients to receive gifts in the form of digital assets that may appreciate in value over time.

Recent statistics reveal that downloads of the top 49 crypto apps in the UAE surged to 15 million in 2024, reflecting a 41 percent increase year-on-year. In January 2025 alone, the country recorded 3.55 million installations of these apps, showcasing a growing interest in digital assets. Expectations indicate that crypto user penetration will reach 39.1 percent by the end of 2025, marking a shift from a niche interest to a mainstream trend.

The growth in cryptocurrency adoption in the UAE is supported by a robust regulatory framework. The Dubai Financial Services Authority (DFSA) is continuously expanding its list of recognized crypto tokens, while the Abu Dhabi Global Market (ADGM) has introduced the world’s first DLT Foundations Framework to create legal structures for blockchain organizations. Additionally, the Central Bank of the UAE has approved AE Coin, the first dirham-pegged stablecoin, which facilitates faster and more affordable digital transactions. Nadeem Ladki, global head of Bitpanda Technology Solutions, highlighted that gifting digital assets not only honors tradition but also empowers recipients within the growing digital economy.

In 2024, the UAE attracted over $30 billion in crypto investments, positioning it among the top 10 countries globally for crypto adoption. The MENA region accounted for 7.5 percent of the world’s total crypto transaction volume, illustrating its rapidly expanding role in the global digital finance landscape. According to Henley & Partners’ Crypto Adoption Index, the UAE ranks third for crypto adoption, surpassed only by Singapore and Hong Kong. The country’s favorable regulatory environment, combined with significant investments in technology and a culture of entrepreneurship, has established it as a global hub for blockchain startups, institutional investors, and crypto enthusiasts alike.