The Saudi Central Bank plans to continue research into the development and application of national digital currencies (CBDC). However, it will not rush to create a token, the Saudi regulator’s press office said. CBDC can be used in wholesale and retail trade.
This tool will be used by both banks and fintech companies serving the kingdom’s business sector. Despite no more advances in the study of CBDC, the Central Bank has not yet made a final decision on the issuance of the token.
The timing of the development and integration of digital currency into the state’s financial system is not yet considered.