The Saudi Central Bank has revealed its ownership of 25,656 shares in Strategy, formerly known as MicroStrategy. This disclosure indirectly links the central bank to Bitcoin exposure through Strategy’s substantial crypto holdings. Strategy currently holds 568,840 Bitcoin, valued at approximately $68 billion. Strategy’s Bitcoin Holdings Strengthen Its Position Strategy is building up its Bitcoin reserves […]
saudi arabia
Binance Expects Saudi Crypto Regulation To boost Industry growth In 2024
Saudi Arabia is one of the most important markets for cryptocurrency and Binance, the world’s largest crypto exchange, is eagerly awaiting the possible introduction of “high-level” regulation for digital currencies in the country this year. Bandar AlTunisi, Head of Development at Binance in Saudi Arabia, said that the crypto industry has been growing steadily in […]
Saudi Aramco Backed Wahed Acquires UK Based Niyah to Boost Digital Asset Ecosystem
The world of fintech has seen a massive uptick over the past few weeks with several organizations making it a point to launch new products. Most developments in the sector were skewed towards bringing in more users into the industry with the sole aim of increasing mass adoption. The industry received another boost recently when […]
Saudi Arabia and UAE Join Hands to Conduct CBDC Experiment; Participants Include Six Major Banks
Cryptocurrency developments across the world have captured the attention of several major institutions, with some governments taking the extra steps to adopt virtual currencies. This rapid growth was personified recently when Saudi Arabia and the United Arab Emirates announced a joint central banked digital currency [CBDC] experiment between the two countries. On Monday, the two […]
Saudi Arabia Steps Up Fintech Game as Western Union Acquires STC Pay
New technologies have recently taken the market by storm, with organizations realizing that it’s a simple matter of sinking or swimming. The decentralized economy was one of those fields where innovation and adoption going hand-in-hand. Just recently, the rising popularity of the fintech industry was put on display when traditional money transferring firm Western Union […]