Thursday, September 19, 2019
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Saudi Arabia Cautions About a Crypto Scam Supposedly Affiliated with the Kingdom

Saudi Arabia’s Ministry of Finance took the time to warn the general public of an ongoing crypto scam spearheaded by a Singapore-based crypto company.The Ministry of Finance revealed that although the so called crypto firm claims to be affiliated with the Kingdom, its token and operation are neither recognized or

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Blockchain Firm Raises $6 Mln From Major Energy Companies, Saudi Aramco Subsidiary

American blockchain startup Data Gumbo Corp. has raised $6 million from major energy companies, including the venture wing of Saudi Arabian national petroleum and natural gas company Saudi Aramco. The news was published by energy-focused news outlet Worldoil on May 8.In a Series A equity funding round, Data Gumbo

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Saudi British Bank Launches Ripple-Powered Instant Cross-Border Transfer Service

Saudi British Bank (SABB) has launched an instant cross-border transfer service powered by Ripple, according to a news release on April 25.The bank said the technology, unveiled at the Financial Sector Conference in Riyadh on April 24 and 25, formed part of its “strategic plan towards digital transformation and

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Major Saudi ATM Provider Partners With Blockchain Identity Platform

Saudi automated teller machine (ATM) provider Alhamrani Universal (AU) has collaborated with blockchain identity platform ShoCard to develop a blockchain-based biometric ATM, according to a press release published on Feb. 27.The collaboration will see AU and ShoCard create a new type of an ATM combining blockchain technology and biometrics

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Six UAE and Saudi Arabian Banks Join Digital Currency Cross-Border Transaction Project

Six commercial banks from Saudi Arabia and the United Arab Emirates (UAE) have joined a digital currency project, major Saudi Arabian financial news portal Argaam reports on Feb. 5Referring to comments from the UAE central bank (UAECB), Agraam notes that the goal of the project is to use cryptocurrency for

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Saudi Arabia and UAE Agree on joint cryptocurrency for cross-border payments

Saudi Arabia and the United Arab Emirates have joined together to launch a new cryptocurrency, according to UAE’s national press agency WAM. The Saudi-Emirati Coordination council, during its first meeting in Abu Dhabi, launched its Strategy of Resolve with seven initiatives in vital sectors for collaboration between both countries, including the

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