Morocco: An Undervalued Web3 Blue Ocean Market

On the Atlantic coast of North Africa, Morocco is undergoing a unique financial experiment. It once had one of the world's strictest cryptocurrency bans, yet simultaneously boasts the highest cryptocurrency adoption rate in North Africa.

While official gates are closed, the doors of the people are wide open. From Casablanca's office buildings to Marrakech's markets, digital assets are becoming an invisible weapon for millions of Moroccans to combat inflation and circumvent foreign exchange controls. In 2025, with the easing of regulatory laws, it is necessary to re-examine this blue ocean with its enormous potential.

Looking at 2025, the Moroccan market is undergoing a qualitative change

With the Central Bank of Morocco (Bank Al-Maghrib) formally drafting and submitting a bill to regulate crypto assets, this North African country is shifting from a "complete ban" to "embracing regulation."

What does this mean for companies and investors going global?

**The Opening of the Compliance Track:** As legislation progresses, exchange licenses and custody service licenses will become scarce resources. Whoever can establish a presence in the Casablanca Financial City (CFC) first will reap the rewards from millions of already market-educated users. **The Explosion of Payment Scenarios:** Morocco boasts an extremely high mobile phone penetration rate. Once compliance thresholds are lowered, stablecoin-based mobile payment and remittance applications will experience explosive growth, directly challenging traditional remittance companies (such as Western Union). **Talent Dividend:** Morocco possesses one of the best engineering reserves in North Africa. Web3 developer costs here are far lower than in Europe and America, but their technical capabilities are not inferior. **Morocco is not the next Dubai, nor is it the next Singapore. It bears the unique imprint of North Africa: a young population, a strong demand for cross-border payments, and an awakening regulatory awareness. The 6 million cryptocurrency users here weren't driven by advertising, but by the demands of daily life. This kind of market, based on real pain points, is often more vibrant than a purely speculative market. For Web3 practitioners, don't just focus on Silicon Valley and Hong Kong. Between the deserts and the sea in North Africa, Morocco, this undervalued piece of the puzzle, may be the missing piece on the global map. (Note: Data mentioned in this article is referenced from Chainalysis's 2022–2024 annual report, TripleA global adoption data, and public reports from Moroccan media outlet Hespress regarding earthquake relief efforts in 2023.)