Central Bank of Saudi Arabia explores CBDCs for local wholesale bank settlements

The Saudi Central Bank (SAMA) has recently announced its ongoing experiment of Central Bank Digital Currencies (CBDCs). Through this project, SAMA aims to better understand the potential uses of domestic or national wholesale CBDCs in collaboration with local banks and FinTechs. However, experts say the CBDCs will target wholesale bank settlements in Saudi Arabia. As … Central Bank of Saudi Arabia explores CBDCs for local wholesale bank settlements Read More »