The evolution of crypto and Web3 in the Arab world | Fortune

Central banks in the Middle East and Northern Africa are driving the region's progress in crypto and Web3.

The current FTX crisis notwithstanding, digital asset markets, crypto, Web3, DeFi, central bank digital currencies (CBDCs), and stablecoins are shaking up decades-old financial protocols. Unlike most of the other parts of the world, in the Middle East and Northern African (MENA) region central banks are driving the evolution of these technologies. Here they lead, regulate, and exert inordinate power in setting government policies. Central bankers typically have long terms in office, and nothing happens unless they approve it. Central banks also serve as the operational arms of government finan

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