WhiteBIT inks Saudi deal on CBDC, tokenized stocks, data centers
WhiteBIT agreed with Prince Naif’s Durrah AlFodah Holding to work on stock market tokenization, a CBDC framework, and national data centers in Saudi Arabia.
WhiteBIT signed a cooperation deal with Durrah AlFodah Holding, represented by His Royal Highness Prince Naif Bin Abdullah Bin Saud Bin Abdulaziz Al Saud, on November 18, 2025, in Riyadh. The two sides will work on stock-market tokenization, a central bank digital currency framework, and national data and mining centers supporting Saudi Vision 2030.
Durrah AlFodah will manage WhiteBIT’s entry into the Kingdom, communication with regulators, and partnership building, while WhiteBIT will provide the technology and system design. The companies plan to create a joint venture to operate and scale projects in Saudi Arabia. Seaside Arabia acted as the strategic consultant on the deal. Financial terms were not disclosed.
The project covers digital securities for the local stock market to improve transparency, access, and liquidity; research and design of a sovereign CBDC system; and the construction of secure, large-scale facilities for data processing, blockchain workloads, and digital-asset mining. The statement notes that the effort fits within the country’s broader digital-transformation goals.
The market reacted immediately: WhiteBIT’s WBT token jumped about 20% over the past 24 hours following the announcement.
Founded in 2018, WhiteBIT describes itself as Europe’s largest cryptocurrency exchange by traffic. The platform lists more than 900 trading pairs, supports over 340 assets and nine fiat currencies, and is part of W Group. The company lists collaborations with Visa, FACEIT, Juventus, and the Ukrainian national football team.
Together, we aim to establish secure and sovereign blockchain systems that will shape the Kingdom’s technological future,
– stated Volodymyr Nosov, founder and president of W Group, which includes WhiteBIT.
Earlier, we reported that WhiteBIT expanded beyond spot trading with a payments processor, a mining pool, its own blockchain, a decentralized exchange, and the WhiteBIT Nova card. Its WBT token is used across key products and features a burn mechanism, with a market cap of about $6.2 billion at the time.
The material on GNcrypto is intended solely for informational use and must not be regarded as financial advice. We make every effort to keep the content accurate and current, but we cannot warrant its precision, completeness, or reliability. GNcrypto does not take responsibility for any mistakes, omissions, or financial losses resulting from reliance on this information. Any actions you take based on this content are done at your own risk. Always conduct independent research and seek guidance from a qualified specialist. For further details, please review our Terms, Privacy Policy, and Disclaimers.
Articles by this author
