The post Saudi Arabia’s Crypto Market Projected to Reach $47.8 Billion by 2034 – Crypto News Bitcoin News appeared on BitcoinEthereumNews.com.

Key Takeaways: SAMA is backing projects like mBridge to grow the market to $47.8 billion by 2034. High youth interest in DeFi and gaming is fueling a 7.51% annual growth rate for bitcoin. Future Vision 2030 reforms will tackle regulatory hurdles to reach $47.8 billion by 2034. The Rise of Institutional Backing Saudi Arabia’s cryptocurrency market is poised for a decade of massive expansion, with new data projecting the sector will nearly double in size by 2034. According to a recent industry report by IMARC Group, the kingdom’s digital asset market, valued at $24.9 billion in 2025, is expected to soar to $47.8 billion by 2034. This trajectory represents a steady compound annual growth rate (CAGR) of 7.51% over the next nine years. The primary catalyst for this surge is the kingdom’s vision 2030 initiative, which prioritizes economic diversification and a move toward a cashless society. The report identifies institutional adoption as one of several key factors driving Saudi Arabia toward this 2034 milestone. The Saudi Central Bank (SAMA) has actively participated in international projects like mBridge, exploring the viability of central bank digital currencies ( CBDCs) for cross-border payments. This institutional backing is lending unprecedented legitimacy to digital assets. Saudi Arabia’s tech-savvy youth demographic is also seen as a major engine for the market. High smartphone penetration and a natural inclination toward decentralized finance ( DeFi) are fueling a retail boom. For many young Saudis, crypto is increasingly viewed not just as a currency but as a primary investment tool. Furthermore, with the kingdom investing billions to become a global hub for gaming, the integration of “play-to-earn” models and in-game digital assets is introducing cryptocurrency to millions of new users. Beyond trading, the application of blockchain in logistics and government services is driving the software and process segments of…

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Filed under: News - @ April 13, 2026 5:31 am