Share
Home Sector Markets Gifting crypto for Eid al-Fitr emerges as UAE’s crypto adoption surges by 42 percent

Gifting crypto for Eid al-Fitr emerges as UAE’s crypto adoption surges by 42 percent

Gifting money to younger family members during Eid al-Fitr is being reimagined for the digital era in the UAE
Gifting crypto for Eid al-Fitr emerges as UAE’s crypto adoption surges by 42 percent
Downloads of the top 49 crypto apps in the UAE surged to 15 million in 2024, marking a 41 percent year-on-year increase

The UAE continues to lead the MENA region in cryptocurrency adoption, giving this year a fresh twist to a cherished tradition- the Eidiya. Rooted in generosity and symbolic of blessings and prosperity, Eidiya—the tradition of gifting money to younger family members during Eid al-Fitr—is being reimagined for the digital era in the UAE.

So, what if your Eidiya this year didn’t just disappear into a toy store run or a snack splurge but grew in value over time?

“Gifting digital assets this Eid not only honors tradition but also empowers recipients with a stake in the burgeoning digital economy. In fact, if you had gifted your loved ones AED100 of BTC for Eid last year, it would now be worth AED124, reflecting a 24 percent growth overall, highlighting the potential of digital assets as a meaningful and forward-thinking gift,” stated Nadeem Ladki, global head of Bitpanda Technology Solutions.

Crypto user penetration to hit 39.1 percent this year

Recent figures show that downloads of the top 49 crypto apps in the UAE surged to 15 million in 2024, marking a 41 percent year-on-year increase. In January 2025 alone, the country recorded 3.55 million crypto app installations, highlighting a clear appetite for digital assets. With user penetration expected to hit 39.1 percent by the end of 2025, crypto is no longer a fringe trend—it’s becoming the new normal.

Growth in the UAE’s crypto adoption is backed by a strong foundation. The Dubai Financial Services Authority (DFSA) continues to expand its recognized crypto tokens list, and the Abu Dhabi Global Market (ADGM) has rolled out the world’s first DLT Foundations Framework, enabling legal structures for blockchain-based organizations. In addition, the Central Bank of the UAE recently approved AE Coin, the country’s first dirham-pegged stablecoin, unlocking faster and more affordable digital transactions.

“The UAE’s proactive regulatory environment has positioned it as a global leader in digital finance,” added Ladki.

Read| Eid al-Fitr 2025: Record gold prices trigger shift in UAE consumer preferences toward 18K gold

UAE attracts over $30 billion in crypto investments

In 2024 alone, the UAE attracted over $30 billion in crypto investments, securing its spot among the top 10 countries globally for crypto adoption. The MENA region clinched 7.5 percent of the world’s total crypto transaction volume, reflecting its fast-growing role in the global digital finance arena. Platforms like Bitpanda are making it easier than ever to explore this space.

According to Henley & Partners’ Crypto Adoption Index, the UAE has also emerged as the country with the third-highest rate of crypto adoption, outranked only by Singapore and Hong Kong. With its proactive regulatory frameworks, substantial investment in technological infrastructure and entrepreneurial culture, the country has built a reputation as a global hub for crypto enthusiasts, blockchain startups and institutional investors alike.

By creating a supportive regulatory environment, encouraging research and development, forming strategic international partnerships and cultivating a culture of entrepreneurship, the UAE has positioned itself as a global leader in the digital currency space.

The stories on our website are intended for informational purposes only. Those with finance, investment, tax or legal content are not to be taken as financial advice or recommendation. Refer to our full disclaimer policy here.