Saudi Central Bank Discusses Stablecoin Risks With Global Regulators

Saudi Central Bank Governor Ayman Al-Sayari said the bank was discussing stablecoins and virtual assets with global regulators while assessing risks and safeguards, as Saudi Arabia counted 371 operating fintech companies by the end of August.

Al-Sayari made the remarks at Money20/20 Middle East in Riyadh. He said innovation should advance alongside financial stability and trust.

Open banking services had more than 337,000 connected accounts. Fintech investment, including venture capital and strategic funding, exceeded 30 billion Saudi riyals by June 2026.

“Progress will need to be measured not solely by speed or scale, but by the trust we build and preserve in the financial system of the future,” Al-Sayari said.

Money20/20 Middle East took place Sept. 14-16, 2026. At the 2025 edition, Saudi Arabia had 281 fintech companies as of August, while electronic payments represented 79% of retail payments in 2024.