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Saudi Riyal Goes Digital: Inside SAMA's "Oil-Backed" CBDC Pilot

Blockchain 

Cryptocoins News / Blockchain  4 Views


Saudi Arabia's Central Bank (SAMA) is pilot-testing a wholesale CBDC, potentially enabling oil sales to China in digital currencies. This project aims to modernize payments and reduce reliance on U.S. dollars, aligning with Vision 2030 goals. While risks exist, such as liquidity issues and regulatory challenges, successful pilots could establish a payments system linked to the nation’s oil resources. (Read More)
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