- WhiteBIT partners with Prince Naif’s Holding to build Saudi Arabia’s blockchain infrastructure.
- The deal targets the tokenization of the $2.7 trillion Saudi securities market.
- Initiatives include a Saudi CBDC framework and a National Data Computing Center.
WhiteBIT Group has signed a strategic agreement with the Holding of Prince Naif Bin Abdullah Bin Saud to overhaul Saudi Arabia’s digital infrastructure. This initiative focuses on blockchain integration, tokenization, and sovereign digital finance.
The $2.7 Trillion Vision: Tokenizing the Saudi Stock Market
In a statement on LinkedIn, WhiteBit founder Volodymyr Nosov, expressed his excitement over the established partnership, noting that it goes beyond tokenizing existing assets to effectively creating an additional $2.7 trillion worth of digital products, which is larger than the combined market cap of today’s top 10 cryptocurrencies.
Related: Saudi Arabia Sees 51% Surge in Blockchain Business Registrations in Q2 2025
Nosov believes the partnership would mark the beginning of a new digital era for Saudi Arabia, which represents the Middle East’s largest economy with a GDP surpassing $1 trillion. According to him, the Strategic Collaboration between both parties extends to key national-scale blockchain initiatives, which will enable the creation of the framework to digitise Saudi traditional securities worth over $2.7 trillion, in addition to expanding global access and liquidity.
CBDC and Saudi Arabia’s Digital Infrastructure
Meanwhile, Nosov further noted that besides creating the above-mentioned framework, both parties will collaborate to launch the Saudi Central Bank Digital Currency (CBDC) with a Riyal market size of about $1 trillion. Some of the potential benefits of the upcoming CBDC include enabling faster international settlements, reducing costs, and strengthening the riyal’s role in oil and import trade. According to Nosov, the CBDC will also promote stronger economic transparency while combating shadow schemes and enhancing monetary control.
The third key benefit of the Strategic Agreement between WhiteBIT and the Holding revolves around building a National Data Computing and Mining Center, according to Nosov. He noted that they will build a large-scale, sovereign technological facility to elevate the Kingdom’s capacity in secure data exchange, computation, and infrastructure protection.
Nosov expects this move to significantly contribute to Saudi Arabia’s goal of remaining at the forefront of Global investment in data-centre infrastructure, which is expected to exceed $1.8 trillion by 2030.
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