Khaberni - Saudi Arabia is close to approving new legislation that soon allows the use of stable digital currencies as a new means for real estate financing.
However, the same sources did not provide a specific timeline for the implementation of the new system, but they mentioned that the relevant authorities are completing all the studies necessary for the approval of the system, in a notable step that allows those wishing to own in Saudi Arabia to purchase via digital currencies.
The same information indicated that the legislation allows flexibility in facilitating financing, empowering real estate developers, as well as enhancing real estate financing tools to enable residential ownership operations in the Kingdom.
In the same context, the market value of stablecoins has increased more than 10 times globally since 2020, breaking the $300 billion mark, and the sources mentioned that opening the door to ownership in Saudi Arabia via stable digital currencies opens up entirely new liquidity channels for the Kingdom, thereby facilitating capital flows and simplifying settlements for international financiers.
