As Saudi Arabia moves closer to introducing stablecoins under national regulation, global crypto exchanges are voicing strong support for the Kingdom\u2019s emerging digital asset ambitions.<\/p>\n\n\n\n
At a recent event, Saudi Arabia\u2019s Minister of Municipal, Rural Affairs and Housing Majed al-Hogail said that the government is looking to launch stablecoins soon in partnership with the Capital Market Authority and the Central Bank.<\/p>\n\n\n\n
He noted that if digital currencies are developed within Saudi values and regulations, \u201cit will create a faster financial system.\u201d<\/p>\n\n\n\n
Stablecoins are a form of digital currency designed to maintain a stable value by being pegged to a reserve asset such as the US dollar, gold, or another fiat currency.<\/p>\n\n\n\n
Unlike cryptocurrencies \u2013 like Bitcoin or Ethereum \u2013 whose prices fluctuate sharply, stablecoins aim to combine the speed and efficiency of digital assets with the reliability of traditional money.<\/p>\n\n\n\n
They are increasingly used for faster payments, remittances, and cross-border transactions. Some governments are now exploring regulated stablecoin frameworks to enhance financial inclusion and digital trade.<\/p>\n\n\n\n
In the Gulf region, the UAE has allowed stablecoin payments in select sectors, paving the way for broader regional adoption.<\/p>\n\n\n\n
Saudi Arabia, where over 79 percent of retail transactions are cashless, is now also well-positioned to leverage stablecoins to strengthen its role as a logistics and financial hub.<\/p>\n\n\n\n
Saudi Arabia\u2019s exploration of regulated, utility-based stablecoins \u201cmarks a turning point for the region\u2019s digital-asset landscape,\u201d according to Vivien Lin, Chief Product Officer at global cryptocurrency exchange BingX.<\/p>\n\n\n\n
For years, the Kingdom has invested in cashless payment rails, she noted, adding that the minister\u2019s recent remarks signal that stablecoins may now move from research to implementation within a supervised policy framework aligned with the Saudi Central Bank (SAMA) and the Capital Market Authority (CMA).<\/p>\n\n\n\n
The approach is \u201cprogressive and risk-aware,\u201d Lin said, since it allows stablecoins to operate within already existing regulation for \u201cinstant settlement and greater liquidity efficiency.\u201d<\/p>\n\n\n\n
The Head of Regulated Regions at Bybit, Michelle Daura, also welcomed the minister\u2019s statement as a strong sign of progress.<\/p>\n\n\n\n
\u201cStablecoins can advance the financial ecosystem when embedded in rigorous regulatory frameworks and aligned with national values,\u201d she said.<\/p>\n\n\n\n
\u201cWe believe this pathway reflects the Kingdom\u2019s commitment to modernization, consumer protection, and financial stability.\u201d<\/p>\n\n\n\n
Daura said Saudi Arabia is one of the most significant markets globally for digital asset development, adding that stablecoins could support payments, trade, and innovation when issued and governed transparently.<\/p>\n\n\n\n
Saudi Arabia\u2019s fintech sector is expanding rapidly and is expected to include more than 280 firms by 2025, according to Fintech Saudi.<\/p>\n\n\n\n
Bybit plans to support this growth through knowledge sharing, localized product development, and collaboration with regulators and financial institutions.<\/p>\n\n\n\n
Both exchanges see stablecoins as a catalyst for faster, more efficient financial systems.<\/p>\n\n\n\n
Lin said stablecoins \u201ccan compress settlement from days to near-instant, cut cross-border costs, and improve traceability.\u201d<\/p>\n\n\n\n
Daura shared a similar view, saying regulated stablecoins could transform payment systems and cross-border trade by providing \u201cfaster settlement, lower costs, and greater efficiency for cross-border flows.\u201d<\/p>\n\n\n\n
Daura and Lin both highlighted fintech, real estate, and retail as key sectors poised to benefit from regulated digital assets.<\/p>\n\n\n\n
In fintech, Daura said, digital assets can enable programmable finance, instant settlement, and inclusive financial products.<\/p>\n\n\n\n
In real estate, tokenization allows fractional ownership and cross-border investment, unlocking new capital flows.<\/p>\n\n\n\n
Meanwhile in retail, digital assets can enhance e-commerce, loyalty programs, and cross-border shopping \u2013 streamlining transactions and improving customer engagement.<\/p>\n\n\n\n
\u201cIn all cases,\u201d Daura said, \u201cregulated digital assets act as enablers for innovation, aligning perfectly with Saudi Arabia\u2019s economic diversification goals.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
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