Announced on Thursday, the Fasset Exchange (FEX) is open for private beta enrollment and is planning a public launch later this year.
The passport would help businesses cut through redundant red tape and flourish across borders, Saudis said.
The largest 50-day rally in stock market history and even shares of bankrupt companies are up more than 100%. What is going on?
Bitcoin fell 40 percent this week from coronavirus shocks, but it's still seen as a safe haven in the Middle East.
Energy experts say incumbents are complacent about the dominance of the U.S. dollar in oil markets while China and Russia may try to force change.
“I don’t think any asset is safe right now – except cash, U.S. dollars.”
Oil-giant subsidiary Saudi Aramco Energy Ventures has made a $5 million investment in Vakt, a commodities post-trade processing platform built with blockchain tech.
The Ethereum Foundation and ConsenSys are both working to bring blockchain technology to the Middle East.
Saudi Arabia and the United Arab Emirates are hoping a shared digital currency can cut remittance costs between the two countries.
A governmental committee comprised of Saudi Arabian regulators has issued a statement warning that cryptocurrency trading is illegal in the kingdom.
Ripple has struck a deal with Saudi Arabia's central bank on a pilot program that will see banks in the country trial the company's tech.
The central banks of the United Arab Emirates and Saudi Arabia are reportedly testing a new cryptocurrency for cross-border payments.
A senior member of the Saudi royal family struck a critical tone about bitcoin during a media appearance today.