Saudis cryptocurrency: What's really happening with crypto in Saudi Arabia

When people talk about Saudis cryptocurrency, the growing interest in digital assets among individuals and institutions in Saudi Arabia. Also known as crypto adoption in the Kingdom, it’s not about flashy meme coins—it’s about state-backed strategy, economic diversification, and a new generation of tech-savvy users. Unlike countries that banned crypto outright, Saudi Arabia took a different path: strict rules, but clear room to grow.

The Saudi Central Bank, the official financial regulator overseeing monetary policy and digital asset oversight in the Kingdom doesn’t allow crypto as payment, but it does license exchanges and monitor trading. That’s why platforms like BitOasis, one of the first regulated crypto exchanges operating legally in Saudi Arabia and Rain, a mobile-first crypto app popular among young Saudis are thriving. They’re not hiding—they’re registered, audited, and compliant. Meanwhile, the government is testing blockchain for land titles, visas, and even digital identity systems. This isn’t just about trading Bitcoin—it’s about building a digital economy from the ground up.

What you won’t hear much about is how everyday Saudis use crypto—not for speculation, but for survival. With high inflation in some sectors and slow banking systems, people turn to USDT and Bitcoin to send money home, pay freelancers, or buy goods overseas. It’s not illegal to hold crypto, and many do. But using it to pay for a car or a phone? That’s where the line is drawn. The Saudi Crypto Regulatory Framework, the official set of rules governing digital asset trading, custody, and licensing in the Kingdom makes it clear: you can trade, you can hold, you can even earn yield—but you can’t spend it like cash.

And then there’s the vision: NEOM, the $500 billion futuristic city, is built on blockchain infrastructure. The government’s own blockchain lab is working on tokenized bonds and central bank digital currency pilots. This isn’t speculation—it’s policy. The Saudis cryptocurrency story isn’t about get-rich-quick schemes. It’s about a nation betting big on digital finance, and regular people finding quiet ways to join in.

Below, you’ll find real reviews of exchanges Saudis actually use, breakdowns of local regulations, and deep dives into the platforms shaping the future of money in the Kingdom—not hype, not rumors, just what’s working and what’s not.