Riyadh – Mubasher: Saudi Arabia has appointed advisors to implement a trial digital currency among banks in the kingdom and the UAE that may be used in the coming period, Saudi Arabian Monetary Authority’s (SAMA) Ahmed Alkholifey said.
The cryptocurrency will be covered by a specified value of real currencies, Alkholifey added.
The planned digital currency will be used for six months and it may be cancelled after this period.
Over the last period, the UAE Central Bank governor Mubarak Rashed Al Mansoori noted that his country was planning to collaborate with the kingdom to issue digital currency.
