The post Crypto News: Global Crypto Exchanges Support Saudi Stablecoin Initiative appeared on BitcoinEthereumNews.com.

Saudi Arabia plans to introduce nationally regulated stablecoins. Global crypto exchanges praise this move. They see it as a milestone for digital finance. Saudi Arabia’s government is preparing to introduce stablecoins under national regulation. This plan has garnered praise from major global crypto exchanges, who consider their plan as a great milestone for digital finance. According to Alarabiya, Majed al-Hogail, the Minister of Municipal, Rural Affairs, and Housing, confirmed that Riyadh is in touch with the Capital Market Authority (CMA) and the Saudi Central Bank (SAMA) to bring to market these regulated stablecoins in the near future. Understanding Stablecoins and Their Regional Impact This initiative is in line with the country’s Vision 2030 program, which seeks to diversify the economy and update the financial system with innovation and fintech partnerships. With more than 79% of retail transactions in Saudi Arabia already cashless, stablecoins may further establish the country as a regional financial hub. Related Reading: Stablecoin News: Bank of England Moves to Align Stablecoin Rules with U.S. Standards | Live Bitcoin News Stablecoins are a type of digital currency that is designed to have a stable value (typically by being pegged to a reserve asset like the US dollar or gold). Unlike cryptocurrencies like Bitcoin or Ethereum, which are more volatile, stablecoins have the potential to both advance the speed and efficiency of a digital asset and the stability of Classical money. Moreover, they are gradually being used for faster payment, remittance, and cross-border transactions. Governments all over the world are investigating regulated stablecoin frameworks to improve financial inclusion and digital trade. UAE Adoption Sets Stage for Saudi Crypto Stablecoin Shift In the Gulf region, the UAE has already allowed stablecoin payments in certain sectors, providing a precedent for larger-scale adoption in the region. Saudi Arabia’s high rate of cashless…

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Filed under: News - @ November 10, 2025 7:27 am