Rachel Conlan, CMO, BinanceNo market embraces crypto faster than the UAE – roughly one in four residents already own digital assets, the highest rate in the world.
Yet, when the rest of the region’s consumers are asked why they haven’t taken the plunge, the answer is blunt: they don’t feel safe. In fact, based on a 2023 survey conducted by the Crypto Council for Innovation (CCI), 63 per cent of people who have never held crypto say they want stronger protections before they will consider it.
That credibility gap is now the single biggest growth barrier for every brand touching Web3. Hacks worth $2.2bn in 2024 alone only hard-wire the scepticism. If we can’t make ‘trust’ as tangible as ‘yield’ or ‘utility’, mainstream adoption stalls.
How we drifted from curiosity to caution
For more than a decade, crypto marketers have focused on perfecting the spectacle: stadium takeovers, viral NFT drops and celebrity coin launches. Attention exploded, but proof lagged.
Consumers saw price whiplash, opaque fees, and the occasional collapse of a household-name exchange. Even with Dubai’s Virtual Assets Regulatory Authority (VARA) framework providing a clear licensing path, public faith in the space is still playing catch-up.
We’ve all been guilty of focusing on the hype – the ‘wow factor’ that grabs attention in the short term. However, for Web3 to truly take hold in the Middle East, it’s time to focus less on promotions and more on what builds trust. If we can’t get that right, we risk leaving potential users feeling cold, hesitant, and unprotected.
Three moves to close the trust gap
Proof over promotion
It’s time to move beyond just talking about the benefits of blockchain and start showing people how it works. Promises of faster transactions or lower fees mean little unless users can experience them directly.
That’s why Binance is constantly innovating to simplify user interfaces and enhance the technology powering its ecosystem.
One example is Binance Pay, a seamless, secure, and borderless feature within the Binance app that lets users send, receive, and spend crypto globally with zero gas fees.
Education at the moment of action
Education shouldn’t be an afterthought. When someone is setting up their wallet or making their first trade, they shouldn’t have to leave the platform to figure things out.
It’s about integrating learning within the experience, offering tooltips and real-time guidance as users take action.
Live events and accessible resources, like those provided during Binance Clubhouse sessions, further enhance this process by answering questions on the spot.
Communities build credibility
Trust is built when users feel heard and involved in the process. Rather than relying on fleeting promotions, we can engage users more meaningfully by inviting them into both community events and the product development journey.
The MENA region, with its rapidly evolving digital landscape, is primed for this shift. People here want to play an active role in shaping the future of the internet.
That’s why we brought Binance Blockchain Week back to the UAE and why this year’s Clubhouse at TOKEN2049 was transformed into a full-fledged experience. Moments like these celebrate the community that drives the brand, building trust and a lasting sense of ownership.
Web3 is no longer a niche finance play. It’s reshaping live events through tokenized ticketing and rewriting CRM with on-chain loyalty points.
Whether you sell telecom bundles or luxury fashion, your next customer interaction could happen in a wallet – one that can easily be compromised if trust isn’t at the core of your Web3 offering.
If we don’t act now, the Middle East – a region with progressive regulations and mobile-native consumers – will miss its chance to lead the world in the next era of digital finance.
At the heart of the industry’s future is user protection. By collaborating with regulators, we can create platforms that ensure consumers engage with crypto confidently.
The next chapter for Web3 in the Middle East is clear: trade hype for proof, integrate learning into the product experience, and prioritize trust in every communication.
By Rachel Conlan, CMO of Binance
