Saudi Arabia has advanced its digital transformation agenda after WhiteBIT Group confirmed a strategic agreement with the Holding of Prince Naif Bin Abdullah Bin Saud. This collaboration aims to modernize core areas of the Kingdom’s digital infrastructure through blockchain integration, tokenization, and sovereign digital finance. According to WhiteBIT founder Volodymyr Nosov, the partnership reflects a direct commitment to improving transparency and efficiency across national financial systems.
Besides enhancing digital frameworks, the initiative is expected to expand financial accessibility for global and regional participants. Nosov explained that the plan will support wider market engagement while strengthening the Kingdom’s presence in the digital economy.
Saudi Tokenization Framework Targets Multi Trillion Dollar Opportunity
WhiteBIT will assist in creating a structure to digitize traditional Saudi securities valued at more than $2.7 trillion. Nosov stressed that the goal extends beyond tokenizing existing assets. He stated that the digital products generated from the initiative could exceed the combined market capitalization of the top ten cryptocurrencies.
Moreover, Saudi Arabia’s status as the Middle East’s largest economy adds significant weight to this development, with its GDP already exceeding $1 trillion. Hence the tokenization plan is positioned to improve liquidity and expand access to major investment channels for both local and international participants.
CBDC Development and Data Center Plan Strengthen National Capacity
Additionally, the agreement includes preparations for a riyal based Central Bank Digital Currency. Nosov noted that the CBDC would support faster international settlements and lower operational costs. He added that the digital riyal could strengthen the currency’s influence in oil related and import driven transactions while offering improved monetary oversight.
Furthermore, both parties expect to establish a National Data Computing and Mining Center to enhance secure data exchange and advanced computation. Nosov described the center as a sovereign facility designed to protect critical infrastructure and support the Kingdom’s growing technological needs. Consequently, the project aligns with Saudi Arabia’s long term objective of staying competitive in global data center investment, which analysts anticipate could exceed $1.8 trillion by 2030.
Saudi Arabia’s partnership with WhiteBIT highlights a focused move toward expanding its digital economy. The combined efforts in tokenization, CBDC preparation, and national computing capacity signal a clear commitment to strengthening the Kingdom’s financial and technological position.