Saudi Arabia introduces regulated stablecoins to develop the digital economy

Key points:

• Saudi Arabia has announced preparations to launch regulated stablecoins in cooperation with the Central Bank (SAMA) and the Capital Market Authority (CMA).
• The project is part of the Saudi Vision 2030 national program and is aimed at developing financial technologies and the digital economy.

According to Alarabiya.net, Saudi Arabia’s Minister of Municipal and Rural Affairs and Housing, Majid Al-Hogail, said that Riyadh is working with the Saudi Arabian Monetary Authority (SAMA) and the Capital Market Authority (CMA) to launch regulated stablecoins soon.

This initiative is part of the Saudi Vision 2030 program, which aims to diversify the economy and develop financial technologies. More than 79% of retail transactions in the country are already cashless, so the launch of stablecoins could further strengthen Saudi Arabia’s position as a regional financial center.

Expert opinion: “A turning point for the region”

Vivien Lin, the chief product officer at BingX exchange, called the move “a turning point for the region’s digital-asset landscape.”

She said Saudi Arabia’s plan shows a progressive and risk-aware approach that combines innovation and oversight. The introduction of stablecoins, she added, could enable instant settlements and improve liquidity efficiency while remaining compliant with SAMA and CMA policies.

Michelle Dower, the Head of Regional Regulation at Bybit, agreed with this view. She noted that regulated stablecoins could be an important tool for developing the financial ecosystem if they are integrated into a strict regulatory framework and take national values into account.

According to Alarabiya.net, both BingX and Bybit see regulated stablecoins as a tool for transforming payments and international trade.

Saudi Arabia follows regional trends

Alarabiya.net notes that Saudi Arabia’s initiatives reflect a general trend among Persian Gulf countries.

• The UAE has already implemented a structure that allows payments to be made in stablecoins;
• Bahrain is testing pilot programs for digital currency.

Experts believe that Saudi Arabia’s clear rules could attract institutional investors and pension funds, accelerating the growth of the region’s digital economy.

Major exchanges are ready to cooperate

As Riyadh moves forward with the project, global crypto exchanges are expressing their willingness to cooperate in the areas of infrastructure, regulation, and education.

The unanimous support for this initiative demonstrates confidence that the Saudi model, based on full reserves, transparency, and government oversight, could serve as an example for other Middle Eastern countries planning to launch regulated digital assets.