WhiteBIT just made a deal so big, even the Saudi princes are doing the cha-cha! 🕺💸 The cryptocurrency exchange has signed a strategic cooperation agreement with Durrah AlFodah Holding, represented by His Royal Highness Prince Naif Bin Abdullah Bin Saud Bin Abdulaziz Al Saud. Because nothing says “I’m a modern ruler” like partnering with a crypto exchange. 🏛️💻
Saudi Vision 2030 Gets a Crypto Makeover (Or Is It Just a Fancy Haircut? 🧑🎨)
The agreement, announced in Riyadh on Nov. 18, was facilitated by Seaside Arabia, which probably charged extra for the “royal treatment.” The collaboration aligns with Saudi Arabia’s Vision 2030 objectives, which, if we’re being honest, is just a fancy way of saying “We need to stop relying on oil and start relying on… more oil? 🤷♂️”
Under the partnership, WhiteBIT and Durrah AlFodah will work on several national-level initiatives. Think: blockchain-based tokenized securities in the Saudi stock market. Because nothing says “transparency” like turning stocks into digital tokens. 📈🔐 The parties also plan to explore a framework for a potential central bank digital currency. Because why not? Let’s just print more money and call it a day. 💸
Another priority involves developing national data computing and mining centers. Because nothing says “secure data processing” like building a data center in the middle of a desert. 🏜️⚡ The companies intend to establish a joint venture to advance and scale these initiatives as they move through regulatory and operational stages. Because nothing says “regulatory compliance” like a joint venture with a prince. 🤝
Durrah AlFodah will lead market entry pathways, regulatory engagement, and local partnerships for WhiteBIT, while the exchange will contribute its technical expertise and infrastructure design. Because nothing says “technical expertise” like a prince with a spreadsheet. 📊👑 WhiteBIT Founder and W Group President Volodymyr Nosov said the collaboration reflects a shared ambition to build secure digital systems and contribute to Saudi Arabia’s technological future. Or, as we call it, “Let’s pretend we’re not still using paper money.” 📄
The partnership aims to position Saudi Arabia as a regional center for blockchain innovation, digital finance development, and data sovereignty. Because nothing says “data sovereignty” like a country that’s also a desert. 🏜️🔐
FAQ ❓
- What does the WhiteBIT-Durrah AlFodah agreement aim to achieve? 🤔
It focuses on advancing blockchain, digital finance, and data infrastructure across Saudi Arabia. (Spoiler: They’re probably just trying to get a better Wi-Fi signal.) 📶 - How does the partnership support Vision 2030? 🤯
It aligns with national goals centered on economic diversification and digital transformation. (Translation: We’re tired of oil. Let’s try crypto instead.) 🚫⛽ - What projects are included in the cooperation? 🧠
Plans cover stock market tokenization, CBDC framework development, and national data computing centers. (Because who doesn’t want their stocks to be digital? 📈) - • Who facilitated the agreement? 🤝
Seaside Arabia acted as the strategic consultant and guided the partnership framework. (Because nothing says “strategic” like a consultancy that’s also a beach club.) 🏖️
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2025-11-19 03:16