A recent study by Swiss fintech firm Avaloq has shed light on a striking shift in how the wealthy of the United Arab Emirates are managing their fortunes. The findings reveal a region in transformation one where digital assets are rapidly gaining favor, but traditional wealth managers are struggling to keep pace.

According to Avaloq’s survey, conducted between February and March 2025, a notable 39% of high-net-worth individuals in the UAE now hold cryptocurrencies. Yet, despite this growing enthusiasm for digital wealth, only 20% of these investors rely on conventional wealth management institutions to handle their crypto exposure. The message is clear: the new generation of wealth is more digital, more independent, and less patient with outdated systems.

Even more telling, 63% of investors have already switched—or are seriously considering switching—their financial institutions, driven in part by unanswered questions and limited support around cryptocurrencies. Akash Anand, Avaloq’s Head for the Middle East and Africa, emphasized that crypto is no longer a fringe fascination but an emerging asset class demanding serious attention. As digital assets continue to reshape global portfolios, private bankers in the region are under increasing pressure to evolve or risk being left behind.

The result? A quiet race among traditional wealth managers to reinvent themselves for a future where digital assets aren’t a novelty but a necessity.#uae