Binance has firmly established itself as a key player in the Middle East and North Africa (MENA) region. Through a mix of hyper-localisation, regulatory engagement, and innovation-first thinking, the platform has seen approximately 20 per cent growth in MENA since 2020.
At the heart of this effort is Bader Al Kalooti, regional head MEASAT at Binance, who is spearheading the company’s expansion across the Gulf, Africa, and beyond. In this exclusive interview, Al Kalooti breaks down how Binance is navigating diverse regional dynamics, strengthening regulation-first strategies, and unlocking the next wave of blockchain innovation.
Local relevance, global scale
The company’s consistent growth in MENA reflects its ability to adapt to a complex, varied landscape. “We have seen the Middle East quickly becoming an epicenter for crypto, a place where platforms and projects migrate to expand and launch their Web3 companies,” said Al Kalooti. “Each region is different, and we can see the community adapt and attract different aspects of the industry.”
He noted that Binance focuses on regulatory frameworks that enable full-service operations aligned with each country’s unique economic and technological priorities.
Strategic expansion: From UAE and Bahrain to Saudi and beyond
Binance made headlines by becoming the first global exchange to secure a Virtual Asset Service Provider (VASP) licence in the UAE and a Category 4 licence in Bahrain. The company is now taking a similarly proactive approach in emerging crypto markets like Saudi Arabia, Egypt, and Kuwait.
“The MENA region is a significant market for Binance and the Web3 industry for several reasons,” Al Kalooti explained. “It has a growing young population of 600 million people, with 60 per cent under the age of 30 who are tech-savvy, and 75 per cent smartphone penetration.”
For high-income economies, digital assets serve as a diversification tool. For lower-GDP countries, crypto presents opportunities to bridge financial inclusion gaps. “Remittance corridors present a significant opportunity primed for Web3 disruption, where there is around $150bn in outflows from the GCC,” he added. “Collaboration with banks, fintechs, and government bodies is vital to ensure compliance.”
Halal digital finance: Sharia-compliant innovation
Binance made a breakthrough with the launch of Sharia Earn, the platform’s first Islamic finance-oriented crypto product.
“When it comes to the next development in halal digital services, Sharia Earn will absolutely evolve and expand,” Al Kalooti said. “It addresses a complex, global need… and the product has to continuously adapt to meet the expectations of diverse communities.”
He noted that Binance will continue expanding token offerings and markets while adhering to Islamic finance principles. “This is just the beginning.”
Driving mass adoption through education
Binance has made education a cornerstone of its regional strategy. Its Arabic-language initiative Blockchain for Everyone and collaborations with institutions like ADGM Academy aim to close knowledge gaps.
“Education is a core priority for Binance, and something we take very seriously,” Al Kalooti said. “Even in high awareness markets there is fear of complexity, volatility, and safety due to low financial and technical literacy. Clear education through practical and real-world examples helps our users build trust.”
Cybersecurity: Navigating rising threats
As crypto adoption grows, so do the risks. Al Kalooti cited phishing attacks, impersonation scams, and deepfake-driven fraud as the most common cyber threats.
“Scammers love to exploit people’s growing interest in crypto and the trust they have in Binance,” he warned. “With the rise of AI and deepfake technology, these impersonations can look and sound shockingly real.”
To protect users, Binance promotes vigilance and has developed tools such as Binance Verify. “It allows users to input addresses, URLs, phone numbers, or usernames to quickly check whether they are legitimate or potentially fraudulent.”
Institutional appetite rising across Gulf sectors
From sovereign wealth funds and telecoms to fintechs, institutional interest in crypto is on the rise. “We see an increase in institutional adoption across the board,” said Al Kalooti.
He cited a 2023 partnership with Beyon Money in Bahrain, and a $2bn investment from Abu Dhabi-based MGX, as clear examples of how Binance is supporting industry players. “We are actively aiming to meet institutional demand by offering tailored services based on each sector’s individual need.”
Real-world use cases: Supply chains and healthcare
Blockchain’s most promising Gulf applications lie in areas like logistics and healthcare, according to Al Kalooti. “I’m most excited about how blockchain can bring transparency and traceability to food supply chain management and pharmaceutical logistics to ensure halal compliance, reduce counterfeiting, and build trust.”
In healthcare, he added, “decentralized records can be a game changer… secure, consent-based access to medical data can make healthcare more seamless and reliable.”
Ecosystem growth through partnerships
Beyond regulators, Binance sees universities, VCs, and incubators as vital to scaling blockchain innovation. “They all play different roles,” Al Kalooti said.
Incubators and VCs provide the infrastructure and funding for startups, while universities help build the future talent pipeline. He cited Binance’s collaboration with Gulf Colleges and Riyadh Chamber to expand blockchain education in Saudi Arabia as an example.
“The partnership focuses on workforce development… co-designing the curriculum, developing learning materials, and establishing certification programmes.”
What’s next: Binance and the Gulf’s digital economy
Looking ahead, Al Kalooti sees Binance playing a deeper role in enabling digital infrastructure across the Gulf.
“We see Binance being a key player in the Gulf’s digital economy, not just as an exchange but as part of the region’s financial infrastructure,” he said. “We are focusing on institutional engagement and supporting real-world use cases like cross-border payments, digital remittances, and DeFi participation.”
For Binance, it’s about “building responsibly and being part of a more connected, transparent, and future-proof financial system”.
