Ukrainian WhiteBIT signed a strategic cooperation agreement with Saudi Arabia
Ukrainian-based crypto exchange WhiteBIT has signed a strategic partnership agreement with Durrah AlFodah Holding, owned by Saudi Prince Nayef bin Abdullah bin Saud. The partnership aims to accelerate the Kingdom of Saudi Arabia’s national digital transformation as part of its Vision 2030 strategy.
“This agreement is strong evidence that the Ukrainian Web3 sector does not simply follow global trends, but actively creates them, exporting intellectual capital and technological solutions to the world’s leading markets,” says the WhiteBIT press release.
WhiteBIT will provide technological expertise and infrastructure design for key national projects that lay the foundations for Saudi Arabia’s new economy:
- Stock market tokenization: the introduction of blockchain-based digital securities to increase liquidity and transparency in the Saudi Arabian financial market;
- CBDC infrastructure development: supporting the design of a sovereign Central Bank Digital Currency (CBDC);
- national data centers: creating large-scale, secure capacities for blockchain computing and digital asset mining.
Both parties will also create a joint venture to manage and scale these initiatives, which, according to WhiteBIT, is a direct confirmation of the high level of trust in Ukrainian developments.
“We are honored to work with His Royal Highness Prince Nayef bin Abdullah bin Saud’s holding company to lay the foundation for Saudi Arabia’s digital transformation. Together, we strive to create secure and sovereign blockchain systems that will shape the Kingdom’s technological future,” commented Volodymyr Nosov, founder and president of W Group (which includes WhiteBIT).
