Morocco’s Blockchain and Cryptocurrency Potential Shines at First “Morocco Blockchain and Crypto Currencies Days” in Rabat

Rabat, March 3, 2025 – Experts at the inaugural “Morocco Blockchain and Crypto Currencies Days,” held last week at the National Institute of Posts and Telecommunications in Rabat, underscored the massive economic potential of blockchain and cryptocurrency for Morocco—if regulatory frameworks are finalized. The event highlighted Morocco’s surprising leadership in adoption, despite lingering legal ambiguities, positioning the kingdom as a regional innovator.

Morocco: A Global Crypto Leader

Contrary to perceptions of lag, Morocco ranks 27th globally in cryptocurrency adoption, per Chainalysis’s Global Crypto Adoption Index, boasting $12.7 billion in crypto assets. This makes it the top adopter in the Middle East and North Africa (MENA) region, according to Badr Bellaj, CTO of Mchain, a Moroccan blockchain solutions firm and event speaker. Bellaj’s presentation challenged skeptics, revealing Morocco’s youthful embrace of digital currencies: 63% of surveyed Moroccans know about cryptocurrencies (though many only name Bitcoin), and 60% of informed users are aged 20–30.

Mchain’s survey also showed that 50% of crypto investors allocate around $1,000 (10,000 MAD), with only 27% engaging in speculation. However, 50% use cash due to the lack of regulated platforms, highlighting a regulatory gap that stifles growth.

Blockchain: Morocco’s Quiet Revolution

While cryptocurrencies face a ban, blockchain adoption thrives, with 18 major projects implemented between 2018 and 2024, Bellaj noted. These span private giants and public institutions, including the National Agency for Land Registry, Cadastre, and Mapping (ANCFCC), Tanger Med Port Authority (TMPA), Banque Centrale Populaire (BCP), Attijariwafa Bank, BMCE Capital, and Maroc Leasing. The finance sector leads with 58% of use cases, followed by logistics (16%) and public services (11%), focusing on asset tokenization, traceability, secure payments, and fraud prevention.

Khalid Madidi, OCP’s Director of Trade Finance and Credit, showcased a practical application: a blockchain-based fertilizer export to Ethiopia, using smart contracts to secure a 90-day deferred payment, mitigating default risks. “Blockchain ensures transparent, secure, and fast transactions without intermediaries,” Madidi said, citing security, automation, and reliable data sharing as key benefits.

Regulatory Hurdles and Opportunities

Despite progress, Morocco lacks a clear regulatory framework for both technologies. Sofia El Mrabet, a fintech and tech lawyer at Pledge, called this delay perplexing in 2025, given mature global markets. “Regulation could unlock massive economic benefits for Morocco, blending international best practices with local realities,” she argued, urging regulators, startups, legal experts, investors, and users to collaborate on a thriving, secure ecosystem.

Bellaj and Madidi echoed this, noting that without regulation, Morocco risks missing out on fintech startup growth and broader economic gains. Posts on X from attendees praised the event’s insights, with @MoroccoTechHub writing, “A regulatory framework could make Morocco a blockchain hub” ([X posts, Feb 27, 2025]).

Why It Matters

Morocco’s crypto adoption—led by a young, tech-savvy population—and blockchain projects signal a ripe opportunity. However, the absence of regulation limits scalability, with many resorting to unregulated cash transactions. A structured approach could attract investment, boost job creation, and position Morocco as a MENA leader in fintech, as seen in its automotive and renewable energy sectors (Morocco investment hub).

What’s Next?

The event’s momentum could pressure regulators to act, though Bank Al-Maghrib (BAM) has adopted a “wait-and-see” approach since its 2017 crypto ban, with a draft law in 2023 still pending (Crypto regulations in Morocco). Experts predict a framework could unlock $100 million+ in economic potential by 2030, per Statista.