A recent report by TRM Labs on April 17, 2025, indicates a significant trend in Yemen's cryptocurrency landscape. Decentralized Finance (DeFi) platforms now account for over 63% of the country's crypto web traffic.
This contrasts sharply with the 18% attributed to global centralized exchanges, suggesting a growing preference for DeFi solutions among Yemeni citizens.
The increased reliance on DeFi protocols appears to be driven by US sanctions targeting the Houthi group. Following the relisting of the Houthis as a Specially Designated Global Terrorist in January 2024, a Yemen-based crypto exchange experienced a substantial 270% increase in volume. Another surge of 223% occurred after the Houthis were reinstated as a foreign terrorist organization on January 22.
This shift highlights how sanctions and instability in traditional financial systems are pushing individuals towards decentralized alternatives for managing their finances in Yemen.