News
Bitget Releases MENA Investor Stats On Imminent Bitcoin Halving
The crypto exchange has conducted a study revealing MENA investors’ bullish sentiment on BTC, with 82% planning increased 2024 investments.
Renowned cryptocurrency exchange and Web3 company Bitget has published an extensive study examining the imminent Bitcoin halving set for April 2024 and its potential impact on investment strategies.
The global investigation included the MENA region and revealed how investors felt about the upcoming Bitcoin halving event and the alterations they plan on making to their investment strategies.
Key Findings From The Bitget Study:
- 80% of MENA investors anticipate that the halving will substantially influence Bitcoin’s price, with 54% envisioning Bitcoin’s value fluctuating between the $30,000 to $60,000 range at the time of the halving.
- 88% of MENA participants think BTC will surpass its all-time high during the upcoming bull run.
- 82% of crypto investors residing in MENA countries intend to augment their investments in 2024, with merely 4% planning a reduction in crypto holdings.
The data suggests a sense of optimism among MENA investors, both in the short-term and long-term prospects of Bitcoin. Notably, MENA crypto enthusiasm outshines that of European investors, with only Latin American crypto enthusiasts being more bullish.
Turning attention to the post-halving era, MENA investors strongly agree that BTC will outperform its previous all-time high during the impending bull run. Despite resounding optimism, only 26% of MENA investors believe the cryptocurrency will reach the $100,000 mark within the current year.
Gracy Chen, Bitget’s Managing Director, commented: “The Bitget Study on BTC halving impacts provides valuable insights into the evolving landscape of cryptocurrency investment. The findings reflect a broad spectrum of expectations and investment plans, indicating that 2024 will be a significant year for the Bitcoin market”.
Also Read: 3 Best Cold Storage Wallets For Crypto
Interestingly, investors in Eastern Asia, Western Europe, and Latin America display higher optimism about Bitcoin’s potential to reach the $100,000 to $150,000 range compared to their MENA counterparts. Nonetheless, a notable 11% of MENA investors remain even more optimistic, anticipating Bitcoin’s value to surge beyond the $150,000 threshold.
The study also unveils intriguing trends in investment plans for the year 2024. A substantial 82% of surveyed MENA investors intend to amplify their cryptocurrency investments this year, a figure that surpasses the global average of 70%.
News
Checkout.com Set To Launch Card Issuing In The UAE
The payment service provider’s expansion is a first-of-its-kind investment and could reshape digital transactions across the region.
Checkout.com is laying the groundwork to become the first global payments platform to introduce card issuing in the United Arab Emirates — a move that could reshape how businesses in the region manage financial transactions.
The company plans to roll out its domestic card issuance offering in the UAE by 2026, subject to regulatory approval. The launch would give businesses the tools to issue both physical and virtual branded cards. This, in turn, opens up new ways to reward customers, streamline expense processes, and handle B2B payouts efficiently.
Checkout.com’s CEO and Founder, Guillaume Pousaz, revealed the plans during Thrive Abu Dhabi, the firm’s debut conference in the Emirates. Joined on stage by Remo Giovanni Abbondandolo, General Manager for MENA, Pousaz presented to an audience of over 150 partners and merchants at Saadiyat Island. Also in attendance was H.E. Omar Sultan Al Olama, the UAE’s Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications.
Abbondandolo highlighted the strategic importance of the announcement: “As a global business, we focus on bringing products to markets that our customers want and need. Today’s announcement is proof of our commitment to the MENA region and its rising influence in the digital economy. The appetite for innovation here is real, and we’re proud to be building the infrastructure that powers it”.
One early adopter of Checkout.com’s UAE acquiring services is Headout, a travel experiences marketplace, which recently named the payment provider as its main partner in Europe. The company has already begun card issuing there and is keen to expand that offering into MENA once approval is granted.
The expansion of services in the UAE and beyond builds on Checkout.com’s track record in the region. It was the first global payments firm to secure a Retail Payment Services license from the UAE’s Central Bank and was instrumental in rolling out Mada and Apple Pay in both the UAE and Saudi Arabia.
Also Read: Protecting Your WhatsApp Account From Hackers: Kaspersky Expert Tips
The firm has also been rolling out new products: One of the latest is Flow Remember Me, currently in beta testing. It allows shoppers to store their card information once and access it across Checkout.com’s entire network, potentially cutting checkout times by up to 70%.
Earlier this year, Checkout.com also introduced Visa Direct’s Push-to-Card solution in the UAE, enabling both domestic and international payouts. Its collaboration with Mastercard has grown as well, making it easier for businesses to send funds directly to third-party cards securely and quickly.
With regional tech ambitions on the rise — spurred by initiatives like Saudi Arabia’s Vision 2030 and the UAE’s 2031 Agenda — Checkout.com sees its role as one of a key enabler. “Our mission is to help ambitious businesses navigate the complexity of payments, so they can move faster, go further, and make the most of every opportunity,” said Abbondandolo. “In MENA, performance is personal. It’s local. It’s built on trust. And when payments perform, businesses thrive”.
Free VPNs: Should You Be Using Them?
Checkout.com Set To Launch Card Issuing In The UAE
Hyper-Personalization: How Far Is Too Far?
Rabbit Expands Hyperlocal Delivery Service In Saudi Arabia
