Binance has unveiled a generous regional initiative designed to rally eligible users to celebrate shared financial journeys and explore a broader range of digital financial tools.
Qafila 2026 launched with US$1 million in USDC rewards, bringing together eligible users across the Middle East, North Africa (MENA) and Pakistan.
New data from Binance - the world’s largest cryptocurrency exchange by trading volume and number of registered users - reveals that 50 per cent of users across that geography are aged 18-29.
Binance says Qafila reflects its “commitment to evolving alongside its community” as user needs extend across trading, earning, payments, learning and access to global financial markets.
The Qafila initiative arrives against a backdrop of growing digital financial participation in the region, supported by new Binance user data that highlights the rising influence of Gen Z and broader adoption of digital financial services across MENA and Pakistan.
The 18-29 age group, representing the adult Gen Z demographic, accounts for 50 per cent of the Binance user base across MENA and Pakistan, rising to 54% in Pakistan.
This underscores the importance of younger generations in shaping the region’s evolving digital financial landscape, explains Tarik Erk, head of MENAT and senior executive officer at Binance.
“MENA and Pakistan are priority markets for Binance, where growing digital adoption is changing what users expect from financial services,” he tells The National.
“Our focus is to evolve alongside our community, bringing greater choice, practical utility and education into one ecosystem through our vision of All Finance on Binance.
Erk adds: “Qafila celebrates that community and the different ambitions driving its financial journey.”
Named after the concept of a caravan, the word draws on an idea familiar across Arabic- and Urdu-speaking communities - that of people moving forward together while pursuing their own ambitions.
The Qafila initiative brings that shared purpose into a regional experience, connecting users across markets through participation, discovery and rewards.
Strong numbers tell a story
Beyond demographic trends, Binance’s regional data also points to growing engagement across its ecosystem.
It reported more than half - 52.9 per cent - of verified users across MENA and Pakistan had engaged with two or more Binance products. The UAE recorded the highest adoption rate at 69.3 per cent, followed by Bahrain (57.2 per cent), and Pakistan (52.6 per cent).
The Binance ecosystem now spans services and experiences from trading and earning, to payments, Binance Square and Binance Academy, reflecting its expanding role beyond trading as it brings together financial tools, education and community engagement in one platform.
The exchange says these trends reflect broader developments in digital financial participation across MENA.
Previous research by Binance cited it as the fastest-growing region for stablecoin savings on Binance Earn; the area’s share of global stablecoin balances held through the platform increased from 5.53 per cent to 9.21 per cent.
The region’s share of global stablecoin trading volume on Binance also rose from 7 per cent in 2023 to 11 per cent this year. This made it the fastest-growing region by trading-volume share over that period.
Within MENA, the UAE was shown to account for the largest stablecoin holdings, highlighting the region’s growing adoption of digital assets for trading, holding value, and earning rewards on eligible assets.
Services adoption growth
These regional developments sit within a wider shift in financial participation across emerging markets.
Binance’s global platform data shows that 77 per cent of its users are based in these growth economies, a substantial increase from 49 per cent in 2020.
Global Binance Research findings further highlight the prevalence of a new generation of financial users.
Gen Z accounts for 44 per cent of Binance Direct Stocks and bStocks users.
Meanwhile, its share of new TradFi users rose from 41 per cent in January to 47 per cent in July 2026.
Essentially, the global findings highlight the wider participation of younger users in traditional financial markets through digital platforms which, in turn, reinforces the importance of access, choice and financial education, says Binance.
It also notes these evolving user needs reflect its All Finance on Binance vision, which brings digital assets, traditional financial markets and everyday financial tools together in one ecosystem.
Rewarding younger users
Qafila elevates this outlook for eligible communities across the region through shared participation and access to locally available products and services.
Admissible participants can participate in activities across the Binance platform, including trading, Simple Earn and community referral activities, subject to applicable market rules.
Qafila offers a total reward pool of US$1 million in USDC to support the experience, with tasks, eligibility and rewards varying by market and user.
Binance says this regional initiative translates into a “shared journey” shaped by different ambitions, practical needs, and ways of participating in digital finance.
This page was produced by The National in partnership with Binance
