News
MENA Region Is World’s Fastest-Growing Crypto Market
According to a newly released report, cryptocurrency adoption is surging in the MENA region, with Egypt now home to the largest cryptocurrency industry.
The Middle East and North Africa (MENA) have adopted cryptocurrency at a staggering rate, according to a new report by Chainalysis, with the MENA region as a whole accounting for 9.2% of global crypto transactions over the last year.
According to the research, although the MENA region is one of the smallest crypto markets, cryptocurrency growth of over $550 billion happened between July 2021 and June 2022, with three of the world’s “Top 30” countries coming from the MENA zone:
- Turkey (12/30)
- Egypt (14/30)
- Morocco (24/30)
In the case of both Egypt and Turkey, unstable and rapidly devaluing fiat currencies have strengthened the appeal of crypto. Turkey made $192 billion in transactions, making it the region’s biggest player, though at a growth rate of 10.5%, the country’s crypto market didn’t expand as quickly as others.
So, which countries seem to be adopting crypto at breakneck speeds? Chainalysis found that Egypt was the MENA region’s fastest-growing, with transaction volumes leaping by over 220%. Saudi Arabia saw similar progress, with volumes increasing by 195%.
“Digital currencies are being used in Egypt as a way to preserve savings. Using cryptocurrencies to hedge against currency devaluation is appealing,” says Kim Grauer, Director of Research, Chainalysis.
Also Read: 3 Best Cold Storage Wallets For Crypto In 2023
In other significant news, unlike many countries, Egypt’s national bank has enthusiastically embraced crypto. It is currently in the process of building a crypto-based remittance corridor between Egypt and the UAE, as many Egyptians are based there for work.
One of the reasons crypto is surging in the MENA is down to demographics: Populations in MENA countries are young, and growth is being fueled by a class of tech-savvy early adopters with high disposable incomes. Overall though, it’s clear that with financial institutions and retail adopting the technology at a rapid pace, the future looks bright for cryptocurrency in North Africa and the Middle East.
News
Google Releases Veo 2 AI Video Tool To MENA Users
The state-of-the-art video generation model is now available in Gemini, offering realistic AI-generated videos with better physics, motion, and detail.
Starting today, users of Gemini Advanced in the MENA region — and globally — can tap into Veo 2, Google’s next-generation video model.
Originally unveiled in 2024, Veo 2 has now been fully integrated into Gemini, supporting multiple languages including Arabic and English. The rollout now brings Google’s most advanced video AI directly into the hands of everyday users.
Veo 2 builds on the foundations of its predecessor with a more sophisticated understanding of the physical world. It’s designed to produce high-fidelity video content with cinematic detail, realistic motion, and greater visual consistency across a wide range of subjects and styles. Whether recreating natural landscapes, human interactions, or stylized environments, the model is capable of interpreting and translating written prompts into eight-second 720p videos that feel almost handcrafted.
Users can generate content directly through the Gemini platform — either via the web or mobile apps. The experience is pretty straightforward: users enter a text-based prompt, and Veo 2 returns a video in 16:9 landscape format, delivered as an MP4 file. These aren’t just generic clips — they can reflect creative, abstract, or highly specific scenarios, making the tool especially useful for content creators, marketers, or anyone experimenting with visual storytelling.
Also Read: Getting Started With Google Gemini: A Beginner’s Guide
To ensure transparency, each video is embedded with SynthID — a digital watermark developed by Google’s DeepMind. The watermark is invisible to the human eye but persists across editing, compression, and sharing. It identifies the video as AI-generated, addressing concerns around misinformation and media authenticity.
While Veo 2 is still in its early phases of public rollout, the technology is part of a broader push by Google to democratize advanced AI tools. With text-to-image, code generation, and now video creation integrated into Gemini, Google is positioning the platform as a full-spectrum creative assistant.
Access to Veo 2 starts today and will continue expanding in the coming weeks. Interested users can try it out at gemini.google.com or through the Gemini app on Android and iOS.
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