According to PANews, a study conducted by Swiss software company Avaloq has highlighted the investment attitudes of high-net-worth individuals in the United Arab Emirates. Despite a significant demand for digital assets in the region, with 39% of surveyed wealthy clients holding cryptocurrencies, only 20% of these investors utilize traditional wealth management institutions. The survey, conducted between February and March 2025, included 3,851 investors and 456 wealth management professionals.
The findings indicate that 63% of investors have either changed or are considering changing their management institutions, partly due to unanswered questions regarding cryptocurrencies. Akash Anand, Avaloq's head for the Middle East and Africa, noted that as cryptocurrencies evolve as an asset class, private banking client managers increasingly need to address the needs of largely underserved clients. Consequently, traditional wealth management institutions are eager to develop capabilities to offer cryptocurrency services.