Crypto ownership Morocco 2021

Morocco | 2021

Cryptocurrency adoption and trends in Morocco in 2021

2.40 %

of Moroccans
own cryptocurrency

How many crypto owners are there in Morocco?

It is estimated that around 0.9 million people, 2.4% of Morocco’s total population, currently own cryptocurrency.

Morocco – North Africa’s crypto hub?

Morocco recorded a Bitcoin trading volume of US$6 million, the highest in North Africa. Morocco is positioned 4th in the African continent, behind Nigeria, South Africa and Kenya.

How do Moroccans view crypto?

Moroccans are open to cryptocurrency, with peer to peer Bitcoin trading volumes increasing steadily over the years and reaching record highs of 2.18 million Moroccan Dirham in 2020.

Crypto’s rising popularity in Morocco

Coindesk: Bitcoin purchases are soaring… – March 2021
Cryptocurrencies are banned in Morocco, but peer-to-peer bitcoin (BTC, -1.49%) trading platform LocalBitcoins is reporting all-time trading highs this year. February 2021 was the platform’s “best month ever” in Morocco in terms of trading volumes, according to LocalBitcoins Chief Marketing Officer Jukka Blomberg, who said approximately $900,000 worth of bitcoin was traded on the platform through the month. LocalBitcoins also saw a 30% increase in user registrations between 2019 and 2020, with over 700 new accounts created, Blomberg said.
Coindesk: Morocco Considers Launching a Central Bank Digital Currency – February 2021
Morocco’s central bank, Bank-Al-Maghrib (BAM), is investigating the benefits of launching a central bank digital currency (CBDC).
MWN: Morocco to widen access to financial services with technology… – November 2019
Moroccan Central Bank governor Jouahri noted that fintech is redefining banking services
Consultancy: Morocco complete first cross-border securities settlement… – April 2019
Real-time cross-border settlement with cash coins reduces risks, costs and has the potential to create enhanced liquidity in markets in Africa.
Cointelegraph: Construction of Morocco’s 36 MW Bitcoin mining farm… – September 2018
The Bitcoin mining company intends to leverage local laws by eventually selling at least 20 percent of its electricity output back to the Moroccan government.

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Morocco | 2021

2.40

%

How many crypto owners are there in Morocco?

Morocco – North Africa’s crypto hub?

How do Moroccans view crypto?

Crypto’s rising popularity in Morocco

Join our vibrant team, united by the mission to build a more efficient global payments ecosystem!

Looking for more information?

We’re here to provide the clarity you need about our solutions and the world of cryptocurrencies.

Understand the crypto market, reach untapped markets and grow your business.

Industry insights, product updates, and musings on crypto.

Find answers to all your questions about our solutions.

A comprehensive guide for your developers to integrate Triple-A’s solutions.

Morocco | 2021

2.40

%

How many crypto owners are there in Morocco?

Morocco – North Africa’s crypto hub?

How do Moroccans view crypto?

Crypto’s rising popularity in Morocco

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