This landmark agreement was facilitated by Seaside Arabia, which served as the strategic consultant and subject matter expert throughout the process, guiding the framework and objectives of the partnership. This cooperation aligns directly with the strategic pillars of Kingdom of Saudi Arabia Vision 2030, fostering economic diversification, technological innovation, and digital transformation across the Kingdom’s public and private sectors.
The partnership sets the foundation for key national-scale projects within the Kingdom, including:
- Stock Market Tokenization – introducing blockchain-based digital securities to enhance transparency, accessibility, and liquidity in the Saudi financial market;
- Central Bank Digital Currency (CBDC) Framework Development – supporting infrastructure research and design for a sovereign digital currency ecosystem;
- National Data Computing and Mining Centers – building secure and large-scale facilities for data processing, blockchain computation, and digital asset mining.
Under the agreement, Durrah AlFodah will facilitate WhiteBIT’s market entry, regulatory engagement, and partnership development across Saudi Arabia, while WhiteBIT will provide technological expertise and infrastructure design. The collaboration also envisions the formation of a joint venture company to manage and scale these initiatives.
Volodymyr Nosov, Founder and President of W Group, which WhiteBIT is, stated:
“It is an honor to work alongside the Holding of His Royal Highness Prince Naif Bin Abdullah Bin Saud to build the foundations of Saudi Arabia’s digital transformation. Together, we aim to establish secure and sovereign blockchain systems that will shape the Kingdom’s technological future.”
This agreement reinforces a shared vision between both parties — to make Saudi Arabia a regional hub for blockchain innovation, digital finance, and data sovereignty.
About WhiteBIT
WhiteBIT is the largest European cryptocurrency exchange by traffic, offering over 900 trading pairs, 340+ assets, and supporting 9 fiat currencies. Founded in 2018, the platform is a part of W Group which serves more than 35 million customers globally. WhiteBIT collaborates with Visa, FACEIT, FC Juventus and the Ukrainian national football team. The company is dedicated to driving the widespread adoption of blockchain technology worldwide.
