Objective & Scope:

The client, a management consulting company, wanted to publish a research paper on the emergence and growth of cryptocurrency in the Middle East market. It sought Benori’s support to understand:

• Growth in crypto exchanges, covering both domestic and international, targeting the Middle East market
• Regulations/licensing on crypto trading and exchanges in key GCC markets
• The comparison of the pros and cons of establishing a crypto exchange in Abu Dhabi, Dubai, and Bahrain

Approach:

We studied the cryptocurrency market in the Middle East. The report covered the emergence of cryptocurrency in the region, growth areas in the local market, along with trends, drivers, government initiatives, and regulatory frameworks of key countries and globally, and how to establish a crypto exchange. More emphasis was placed on the licensing regulations followed in various countries in the Middle East.

Impact:

Our research helped the client in:

• Gaining an understanding of the cryptocurrency market in the Middle East, its emergence in different countries, and growth parameters
• Analyzing key licensing and regulations across different countries in the Middle East