Saudi Arabia eyes state-backed stablecoin amid digital finance push
Tokenization in Saudi Arabia has rapidly evolved from concept to early-stage execution since the early 2020s.
Saudi Arabia could introduce a government-regulated digital currency, or stablecoin, this year as it accelerates efforts to build a broader blockchain-based financial system aimed at attracting foreign investment and modernizing its capital markets, according to Faisal Al Monai, founder and chairman of blockchain technology company droppGroup.
“I think before the end of 2026 we will see at least a sandbox or proof-of-concept transaction involving stablecoins,” Monai told Al-Monitor.
The initiative forms part of a wider Saudi push into tokenized finance, which is the process of turning ownership of real-world assets such as property, commodities or company shares into blockchain-based digital assets that can be traded online.
Building a digital asset ecosystem
