- Four MoUs signed with regional and international partners in market innovation, reinforcing WAMID’s role in shaping Saudi Arabia’s digital finance ecosystem.
WAMID, the technology and innovation subsidiary of Saudi Tadawul Group (STG), announced the signing of four Memoranda of Understanding (MoUs) with global and regional partners. The agreements mark a significant step in accelerating digital finance in Saudi Arabia and support the Kingdom’s ambition to build an advanced, technology-driven capital market.
The MoUs were signed with Saudi Alawwal Bank (SAB), Libeara, STV and Zodia Custody, uniting expertise across fintech, tokenization, private markets and digital asset custody. Together, these partnerships will drive the development of next-generation market infrastructure, expand access to capital, and strengthen transparency and investor confidence.
The agreement details include:
- Saudi Alawwal Bank (SAB) to collaborate on fintech and innovation initiatives, including digital payments, joint pilots, and entrepreneurship support.
- Libeara to jointly develop Sharia-compliant tokenized instruments, explore tokenization use cases in securities, and establish frameworks for the issuance and settlement of digital assets.
- STV to introduce a platform that connects private-company shareholders with qualified investors, enabling secondary transactions and enhancing private-market liquidity.
- Zodia Custody to advance the development of secure, Sharia-compliant digital asset custody and settlement solutions, by focusing on compliance, security, and investor confidence.
Yazeed Al-Domaiji, CEO of WAMID, said in a statement: “These partnerships reflect the momentum we are building to lead the digital transformation of the Saudi capital market. By collaborating with leading global and regional players, we are laying important foundations in tokenization, digital assets and fintech that will expand access, enhance transparency, and strengthen investor confidence.”