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Saudi Arabia Leads MENA in Crypto Growth for Second Year Running
26.9.2024
Saudi Arabia has emerged as the fastest-growing crypto economy in the Middle East and North Africa (MENA) region for the second consecutive year. Unlike other MENA countries, Saudi Arabia’s and Qatar’s crypto activity primarily stems from decentralized finance platforms. The majority...
BRICS to Discuss Alternative Payment Platforms at Upcoming Summit
24.9.2024
Russian Foreign Minister Sergey Lavrov announced that a report on alternative payment systems for BRICS nations will be presented at an upcoming summit in Kazan. The proposal, led by Brazilian President Lula da Silva, seeks to reduce reliance on traditional financial platforms. Lavrov emphasized...
BRICS Beats Dollar Dependence: National Currency Settlements Exceed USD Payments
22.9.2024
The BRICS bloc might have already overcome its dollar-dependence problem, as the volume of settlements in the national currencies of its member nations has already surpassed the USD-based exchanges. Using the U.S. dollar can lead to expenses that can be avoided when paying with other currencies...
BRICS Payment Platforms Gain Momentum as US Dollar Alternatives, Says Russian Official
17.9.2024
BRICS’ new payment platforms, which offer alternatives to the U.S. dollar and euro, are attracting global attention, according to Russian Foreign Minister Sergey Lavrov. These systems enable countries to conduct economic activities without relying on currencies used as political tools...
Analyst Claims Saudi Arabia Has Covertly Bought 160 Tonnes of Gold Since 2022
16.9.2024
Jan Nieuwenhuijs, a gold market analyst, claims that Saudi Arabia has been covertly buying gold since 2022, trying to get its hands on physical gold due to its neutral and sanction-proof traits. According to his figures, 160 tonnes have been acquired without disclosure, likely to avoid upsetting...
Saudi Minister Hints at 86 Million Tonnes of Petroyuan Adoption, States Country Is ‘Open to New Ideas’
13.9.2024
Bandar Alkhorayef, Saudi Minister of Industry and Mineral Resources, stated that while the petroyuan – the use of the Chinese currency to settle oil shipments – was not “substantial to the ministry,” the country was open to new ideas, trying not to mix politics and commerce....
BRICS Gains Global Appeal as 34 Countries Show Interest, Putin Reveals
13.9.2024
Russian President Vladimir Putin revealed that 34 countries have shown interest in joining BRICS activities, highlighting the global appeal of the group. He detailed Russia’s role in facilitating the integration of new members, sharing updates on BRICS activities under Russia’s...
Tether Invests $3 Million in Kem App to Boost USDT Usage in the Middle East
14.8.2024
Stablecoin issuer Tether has announced a $3 million strategic investment in the Kem app, a platform for money transfers and financial management. This collaboration aims to introduce USDT on Kem’s platform, promoting widespread adoption in the Middle East and enhancing financial inclusion....
Saudi Arabia Becoming Hub for Web3 Startups Seeking Investment, Report Says
5.8.2024
Saudi Arabia’s emergence as a top venture capital investment destination in the Middle East and North Africa offers an opportunity for Web3 startups seeking funding. However, the latest Adaverse report acknowledges that the Saudi Web3 industry faces challenges requiring collaboration among...
Saudi Arabia’s Riyadh may be crypto’s sleeping giant: Crypto City Guide
17.7.2024
While crypto may still operate in a gray space in Saudi Arabia, the country’s talent pool and burgeoning gaming sector hold promise for Web3
Saudi Arabia’s Riyadh may be crypto’s sleeping giant: Crypto City Guide
17.7.2024
While crypto may still operate in a gray space in Saudi Arabia, the country’s talent pool and burgeoning gaming sector hold promise for Web3
Blockchain-Enabled Sports Tech Startup Fanera Partners Saudi Government, Set to Relocate to Riyadh
12.7.2024
Blockchain-enabled sports tech startup Fanera has partnered with the Saudi Arabian Ministry of Investment and is poised to relocate its headquarters to Riyadh. Through its fan engagement app, Fanera aims to empower football fans, enabling them to become content creators and influencers. Setting...
Droppgroup Partners Solana-Focused Superteam to Drive Web3 Adoption in Saudi Arabia
12.7.2024
Web3 development firms Droppgroup and Superteam have partnered to accelerate Web3 adoption in Saudi Arabia. The collaboration aims to revolutionize Saudi Arabia’s public and private sectors through Web3. Collaboration Aligns with Saudi Arabia’s Vision 2030 Web3 development firm...
Saudi Arabia Joins BIS’ CBDC Project mBridge as a Full Participant
6.6.2024
The First Web3 RPG From Saudi Arabia Astra Nova Launches a SocialFi Platform on Immutable zkEVM
16.5.2024
PRESS RELEASE. Astra Nova, the pioneering Web3 RPG from Saudi Arabia, is excited to announce the launch of its SocialFi platform, The Black Pass. This innovative platform is accessible through a free soulbound NFT and offers a competitive edge by tracking players’ in-game activity. On...
Finnovex Saudi Arabia 2024: Fulfilling Vision 2030 – Kingdom Banking’s Pinnacle – Transforming Finance for a Thriving Saudi Arabia
22.4.2024
Finovex Saudi Arabia 2024 is poised to be the beacon of innovation in the financial sector as it convenes on May 21-22, 2024, in Riyadh, Saudi Arabia. Under the theme “Fulfilling Vision 2030 – Kingdom Banking’s Pinnacle – Transforming Finance for a Thriving Saudi Arabia,”...
Apex Legends Tournament Sparks Backlash From Queer Fans And Allies
15.4.2024
Respawn’s hero shooter battle royale Apex Legends is an incredibly inclusive game for the queer community. It has several playable LGBTQIA+ legends, has given players Pride Flag cosmetics to showcase their identities in-game, and developer Respawn even put a statement supporting trans rights in...
Saudi Investors Barred from FTX’s Anthropic Stake Sale Over National Security Concerns
23.3.2024
AI startup Anthropic will not accept investments from Saudi Arabia in the sale process of 8% of its shares as part of FTX's bankruptcy proceedings.
The post Saudi Investors Barred from FTX’s Anthropic Stake Sale Over National Security Concerns appeared first on Cryptonews
Outer Edge Riyadh: A fiery gathering of tech titans in Saudi Arabia
21.3.2024
Outer Edge is providing the world with another fiery event, Outer Edge Riyadh, in collaboration with Animoca Brands. It will be held in Riyadh, Saudi Arabia, and is slated for the 23rd of April. King Abdulaziz City for Science and Technology (KACST) will also participate. Outer Edge, known to host...
Mario Kart-Inspired F1 Track Is A Rainbow Road Fever Dream
6.3.2024
On Saturday, Formula 1 will race in Saudi Arabia on the Jeddah Corniche Circuit for the fourth time. It’s officially the longest track in the calendar and boasts the most corners of any circuit in F1, but it’s not the only ridiculous location that F1 could race in the kingdom. Now, race promoters...