Saudi Arabia is advancing its long-term fintech strategy through a new cooperation agreement between Durrah AlFodah Holding, represented by His Royal Highness Prince Naif Bin Abdullah Bin Saud Bin Abdulaziz Al Saud, and WhiteBIT, largest European crypto exchange by traffic, one of the top 3 most secure exchanges in the world by CER.live.
WhiteBIT brings notable institutional credibility to the partnership. The platform is the largest European cryptocurrency exchange by traffic and is recognised as one of the world’s top three most secure exchanges by the cybersecurity rating agency CER.live. Beyond its market presence, WhiteBIT is known for its strict compliance standards, transparent operational framework, and institutional-grade security infrastructure. These characteristics position the exchange as a capable collaborator for national-scale blockchain and digital finance initiatives.
The partnership was structured with advisory input from Seaside Arabia, aligning with the fintech-focused objectives of Saudi Vision 2030. Together, the parties will work on modernising capital markets through tokenisation, advancing central bank digital currency (CBDC) research, and developing national blockchain and data processing infrastructures.
Tokenisation as a Foundation for Financial Market Innovation
Tokenisation continues to gain traction across global financial markets as institutions explore blockchain-based instruments to improve settlement efficiency, accessibility, and post-trade transparency.
Saudi Arabia’s interest in tokenised assets aligns with its broader capital market reforms aimed at strengthening liquidity, reducing operational friction, and expanding participation among both institutional and retail investors.
The cooperation will focus on:
- Assessing regulatory pathways for tokenised securities
- Exploring blockchain-based issuance and settlement models
- Evaluating interoperability with existing Saudi financial infrastructure
- Identifying efficiency gains in post-trade operations
The initiative positions the Kingdom among the growing list of jurisdictions exploring blockchain as a future component of market infrastructure.
CBDC Development: Continuing the Kingdom’s Digital Currency Exploration
Another key pillar of the partnership is contributing to the development of a CBDC conceptual framework for Saudi Arabia.
The Kingdom previously joined the UAE in Project Aber, one of the earliest regional wholesale CBDC experiments. Building on that progress, the new cooperation will explore both technical and policy considerations for digital currency deployment.
Areas of analysis include:
- CBDC issuance and circulation models
- Settlement and interoperability architecture
- Cybersecurity and data governance requirements
- Potential wholesale and retail use-case scenarios
- Integration with existing payment rails and banking networks
As central banks worldwide evaluate digital money infrastructure, this partnership supports Saudi Arabia’s continued engagement in designing next-generation monetary systems.
National Blockchain and Data Computing Infrastructure
Large-scale data and blockchain computing facilities represent another major component of the collaboration. These centres are increasingly necessary to support emerging fintech applications, high-volume distributed ledger operations, and sovereign digital asset infrastructure.
The project will examine frameworks for establishing centres that provide:
- Blockchain verification and computation
- High-throughput transaction processing
- Secure data storage and processing
- Scalable digital finance operations for government and private institutions
This aligns with Saudi Arabia’s strategy to enhance digital sovereignty and expand its capacity for data-driven financial innovation.
Defined Roles Across the Cooperation
The agreement sets clear functions for each party:
Durrah AlFodah Holding will:
- Facilitate regulatory and institutional engagement
- Support market entry and local ecosystem integration
- Coordinate with public-sector stakeholders
WhiteBIT will:
- Provide blockchain and digital asset infrastructure expertise
- Support the design of tokenised market frameworks
- Contribute to CBDC research and modelling
- Advise on architecture for national data and blockchain centres
The cooperation also envisions the creation of a joint venture to manage long-term operations and implementation.
A Strategic Step in Saudi Arabia’s Fintech Evolution
Saudi Arabia continues to expand its fintech ecosystem through regulatory modernisation, digital infrastructure investment, and national-level innovation programmes.
The collaboration with WhiteBIT adds momentum to these efforts by pairing international blockchain expertise with the Kingdom’s ambition to advance capital market innovation, digital currency research, and data-driven financial infrastructure.
As tokenised assets, CBDCs, and blockchain computing become increasingly central to global financial architecture, Saudi Arabia’s engagement in these areas positions it as a growing leader in regional and international fintech development.