WhiteBIT, Europe’s largest cryptocurrency exchange by traffic, has signed a landmark strategic cooperation agreement with Durrah AlFodah Holding to support Saudi Arabia’s blockchain, digital finance and data infrastructure ambitions under Vision 2030. Represented by His Royal Highness Prince Naif Bin Abdullah Bin Saud Bin Abdulaziz Al Saud, the partnership positions WhiteBIT at the center of major national-scale technology projects, including stock market tokenization, a central bank digital currency (CBDC) framework, and advanced national data computing and mining facilities.
The agreement was facilitated by Seaside Arabia and will evolve into a joint venture that manages and scales Saudi Arabia’s long-term blockchain infrastructure initiatives. The partnership builds on earlier national efforts, including the Saudi Central Bank’s ongoing CBDC experimentation — from Project Aber with the UAE in 2019 to its 2023 phased pilot with banks and fintechs.
Durrah AlFodah Holding will lead market entry, regulatory engagement and local partnerships, while WhiteBIT provides global blockchain expertise, infrastructure design and high-grade security technologies. With more than 8 million users and $2.7 trillion in annual trading volume, WhiteBIT brings institutional-scale capabilities and industry-leading certifications, including Level 3 under the global Cryptocurrency Security Standard.
The collaboration aligns with Saudi Arabia’s accelerating digital transformation efforts. Blockchain commercial registrations grew 51% by late 2024, while AI-related records expanded 34%, reflecting a rapidly maturing innovation environment. The Kingdom, now part of the BIS mBridge project, is integrating digital finance into its broader economic diversification strategy.
WhiteBIT President Volodymyr Nosov described the partnership as a “foundational step” in building sovereign, secure and globally competitive blockchain systems for the Kingdom. Analysts view the agreement as a significant move that could position Saudi Arabia as a direct competitor to the UAE in becoming the Gulf’s leading blockchain and digital asset hub.
As over 130 countries advance CBDC exploration, Saudi Arabia’s deal with WhiteBIT signals its intent to remain at the forefront of global digital finance—balancing innovation with strong regulatory oversight and national data sovereignty.
