Social platforms are fuelling the rise of youth-led digital finance
The Middle East has officially transitioned from crypto-curious to crypto-committed, with Saudi Arabia now taking centre stage in the region’s digital asset revolution.
According to a new report by Mining Grid, a leading provider of blockchain and Bitcoin solutions, Saudi Arabia recorded $47.1 billion in crypto inflows between July 2023 and June 2024 — the highest in the GCC. This represents a staggering 153% year-on-year growth, positioning the Kingdom as a regional leader in crypto adoption. Of the $338.7 billion total inflows to the Middle East during the same period, over 93% came from institutional-sized transfers, signalling a rapidly maturing market driven by strategy over speculation.
The surge reflects KSA’’s unique demographic advantage and strategic economic positioning. With 63% of its population under 30, the Kingdom hosts the Arab world’s largest cryptocurrency market by user base.
Social media platforms including TikTok, Instagram, Youtube and influencers/ peer recommendation are accelerating participation, with 50% of new crypto investors onboarding within the past six months. Approximately 76% of current users have less than one year of trading experience, indicating rapid market expansion beyond traditional financial sectors.
“Saudi Arabia’s demographic profile creates optimal conditions for digital asset adoption,” said Solaiman AlRifai, Founder and Board Member, Mining Grid. “The convergence of Vision 2030’s diversification goals with grassroots financial innovation is producing a crypto ecosystem that prioritizes both growth and strategic development.”
Neighbouring countries are also moving forward with tailored strategies. The UAE’s crypto inflows reached $34 billion, supported by progressive regulation and tax-free incentives, while Oman is investing over $1.1 billion in clean energy-backed mining infrastructure to serve as the region’s green crypto hub.
Rami Alsridi, Founder and CEO, Mining Grid added, “Saudi Arabia is quickly becoming a force in digital assets. Its youth-led growth, combined with a long-term national vision, is the perfect formula for sustainable leadership in the crypto economy. We are witnessing a profound cultural shift — where digital finance is no longer fringe, but foundational.”
Bitcoin continues to dominate regional trading, while Ethereum’s ecosystem resilience and the rise of tokenized real-world assets — from real estate to bonds — are bringing in institutional capital. Stablecoins now comprise 66% of all on-chain transactions in the Middle East, signalling their growing importance as value-transfer tools.
Mining Grid, which serves over 60,000 users globally, is playing a pivotal role in supporting Saudi crypto adoption through education, mobile-first tools, and sustainable mining solutions designed to match the Kingdom’s energy potential and youth-driven demand.
Looking ahead, Mining Grid analysts expect youth-led accounts to become the single largest onboarding segment in Saudi Arabia by Q4 2025. The market is also projected to see further investment in gamified crypto platforms, tokenized assets, and decentralised infrastructure aligned with Vision 2030.
