Thu. Jun 20th, 2024

Morocco Ranks 14th Worldwide in the Latest Crypto Global Adoption Index

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Latest global crypto adoption index ranks Morocco 14th in crypto adoption worldwide, the highest ranking for any country in the Middle East and North Africa, and second only to Nigeria in Africa.

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Morocco recorded a Bitcoin trading volume of US$6 million, the highest in North Africa. Morocco is positioned 4th in the African continent, behind Nigeria, South Africa and Kenya.

According to the 2022 Global Crypto Adoption Index from the blockchain analysis firm Chainanalysis, Morocco features on a list of the top 20 mostly emerging markets with “grassroots” crypto adoption.

Also Read: Central Bank of Morocco Set To Unveil Crypto and Bitcoin Regulation Bill

Measuring grassroots adoption, the index largely reflects the level of individual engagement in the crypto space in terms of the number and volume of transactions as well as the level of embracing digital assets.

Noting the global state of crypto adoption, the Chainalysis report explains that after the consistent growth the space witnessed since 2019, adoption of the digital assets stagnated in the course of last year to reflect the uncertainty prevailing in the conventional financial market

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