The Saudi Central Bank has recently unveiled an investment in a Strategy, an American development company. After the investment, the bank got its first indirect exposure to Bitcoin. The bank made a filing on May 16 with the US Securities and Exchange Commission in which it mentions that it now
In a historic partnership, droppGroup, Oracle, and the Saudi Ministry of Culture are pleased to announce the opening of the Cultural Universe, the first government-run national Metaverse project in history. It is powered by droppGroup’s droppPhygital Generative Media Intelligence (GMI) AI system and Oracle’s Hyperledger Fabric 2.5 blockchain technology. In
The kingdom of Saudi Arabia, whose currency has been pegged to the dollar, seeks to strengthen its ties with prominent trading partners such as China. Finance Minister Mohammed Al-Jadaan announced that the country is open to talking about trading in currencies other than the US dollar. Saudi Arabia Seeks to
SDAIA is anticipating over 10K participants including significant figures in the AI field. The summit will be happening in the King Abdul Aziz International Conference Center. Global AI Summit 2022, is kicking off today in Saudi Arabia. The summit is a 3 days (Sept 13th to Sept 15th) long event
The Kingdom’s virtual assets programme will be overseen by Mohsen AlZahrani. Riyadh banned banks from conducting cryptocurrency transactions in 2018. In a sign of the Gulf nation’s prospective interest in cryptocurrencies, Saudi Arabia’s banking regulator recently named Mohsen AlZahrani to head its virtual assets and central bank digital currency initiative.
In all, the kingdom plans to spend about $6.4 billion. The NEOM Tech & Digital Company, named after the futuristic Saudi Arabian metropolis of the same name, received a $1 billion investment as part of this deal. According to the official Saudi Press Agency, the corporation intends to develop its
The leading oil explorer in Saudi Arabia recently claimed false and inappropriate gossip about the firm. The oil company, Saudi Aramco denies the rumors about the firm being involved in the minting of digital currency Bitcoin. The oil giant in Saudi reports the denial of the rising news that the
