Although many are aware of cryptocurrencies, only 20% are active owners of these digital assets. Crypto uptake in Saudi Arabia remains low since many investors hesitate to deal in digital currency. The skepticism from central banks in some Gulf states isn’t helping crypto, despite its appeal, especially among the youth.

To change perceptions, the Middle East’s leading crypto exchange BitOasis has partnered with media firm MBC Group. The duo will collaborate on educational and awareness campaigns for cryptocurrencies to be broadcast on MBC’s digital platforms and TV channels. With a 1500% growth between 2020 and 2021, the Middle East and Turkey are among the fast-growing markets for cryptocurrencies.

BitOasis thinks crypto is mainstream among the tech-savvy GenZ investors in Saudi Arabia and the UAE. But there’s a need to address a massive majority in the region, which lacks a good understanding of the virtual asset. “Crypto education is front and center of our strategy, and MBC’s trusted and high-visibility platforms will allow us to localize our approach,” said Ola Doudin, BitOasis CEO.

The firm also believes that the partnership is important when the region is adopting blockchain and Web3 tech, making cryptocurrencies essential. Their campaigns with MBC aim to demystify crypto and blockchain by bridging the knowledge gap.

Emerging as the Middle East’s biggest crypto exchange, UAE-based BitOasis has recorded a trading volume of $4 billion to date.