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Saudi Arabia News

The Kingdom of Saudi Arabia is a western Asian Islamic country with an area of a little more than two million square kilometers and a population of 33 million people. Saudi Arabia has a petroleum-based command economy that produces one of the largest GDPs in the world, steadily being in the top-20 countries in terms of GDP. Bitcoin is legal is Saudi Arabia. One can exchange and buy Bitcoin in Saudi Arabia. However, the financial authorities of Saudi Arabia issued a warning on Bitcoin trading and offer no protections for cryptocurrency-related losses. There are ATMs for Bitcoin in Saudi Arabia and maintained Bitcoin exchanges. The government of the country is currently liberalizing its political and economic structure, making Saudi Arabia more welcoming for foreign investments and emerging startups. The highly profitable economy may become a solid foundation for future technological development.

Top News

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Saudi Arabia’s Finance Ministry has warned against crypto tricksters using the kingdom’s official emblem to promote tokens that purport to be tied to government...

Saudi Arabia Warns of Crypto Scammers Posing as Gov’t Projects

2019-08-21T08:27:00+01:00

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Skepticism to crypto in Islamic countries is not a pure rejection, but a result of uncertainty, according to an Islamic finance expert.

Islamic Finance Expert: ‘Halal Coin’ a Matter of Time and Awareness

2019-08-02T13:08:00+01:00

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A large number of Gulf nations are embracing crypto with open arms as Ethereum explores partnership opportunities...

Middle East Blockchain Development Primed to Lead the Global Industry

2019-07-10T14:56:00+01:00

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Data Gumbo Corp. has raised $6 million from major energy companies, including the venture wing of Saudi Arabian national petroleum and natural gas company Saudi...

Blockchain Firm Raises $6 Mln From Major Energy Companies, Saudi Aramco Subsidiary

2019-05-09T00:10:00+01:00

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The Ripple-powered technology will initially use Indian rupees, but the bank plans to add both more countries and currencies in the future.

Saudi British Bank Launches Ripple-Powered Instant Cross-Border Transfer Service

2019-04-26T10:51:00+01:00

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Saudi ATM provider Alhamrani Universal and blockchain firm ShoCard will jointly develop a new type of ATM combining blockchain and biometrics technologies.

Major Saudi ATM Provider Partners With Blockchain Identity Platform

2019-03-02T00:51:00+00:00

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Six commercial UAE and Saudi Arabian banks have joined a digital currency project meant for cross-border interbank transactions.

Six UAE and Saudi Arabian Banks Join Digital Currency Cross-Border Transaction Project

2019-02-05T09:47:00+00:00

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The United Arab Emirates’ central bank and the Saudi Arabian Monetary Authority have announced details on the interbank digital currency they are co-developing.

UAE-Saudi Arabian Digital Currency 'Aber' to be Restricted to Select Banks at Start

2019-01-29T12:53:00+00:00

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