The world's most comprehensive multi-regulator framework for tokenised assets — from virtual asset licensing to property registration to commodity trading.
Capital Market Authority — regulates securities, capital markets, and tokenised capital market products across the Kingdom. CMA Fintech Lab launched 2017 provides sandbox for blockchain firms. Oversees equity crowdfunding and robo-advisory. 2025 consultation on offshore securities business licences signals future token-fund structures. Vision 2030 Financial Sector Development Program target: 525 fintech firms by 2030.
Saudi Central Bank — oversees banking, payments, and monetary stability. Leading CBDC exploration via Project Aber (bilateral with UAE) and BIS Project mBridge (China, UAE, Thailand, HK) — reached MVP stage June 2024. 70% digital payments target by 2030 (achieved early). Open Banking Lab for sandbox testing. Stablecoin plans announced late 2025 by Minister Al-Hogail under SAMA/CMA joint oversight. Fintech Saudi initiative: 280+ fintech firms.
Abu Dhabi Global Market — 300+ financial firms under FSRA regulation. One of the first global jurisdictions with a complete crypto framework. Home to Hub71 (370+ startups). RegLab sandbox. Institutional-grade: tokenised funds, digital securities, SPVs. English common-law system. Preferred for family offices and sovereign wealth funds.
Saudi Data & AI Authority — operates the National AI Strategy and data governance for the Kingdom. Oversees NDMO (National Data Management Office). Drives digital transformation underpinning tokenisation infrastructure. AI integration with tokenised asset platforms, automated compliance, and smart contract verification. SDAIA's mandate directly supports Vision 2030's digital economy ambitions.
Real Estate Registry (RER) — operates under REGA. World's first national-scale blockchain infrastructure for real estate registration, fractionalisation, and marketplace integration. First tokenised title deed traded between NHC and multiple investors (Nov 2025). Powered by SettleMint asset tokenisation platform. Technical specs for tokenisation standards publishing early 2026.
Saudi Data & Artificial Intelligence Authority — oversees national AI strategy, data governance frameworks, and digital transformation infrastructure under Vision 2030. Operates the National Data Management Office (NDMO). Personal Data Protection Law (PDPL) enforcement since Sept 2023. AI Ethics Framework. National Centre for AI (NCAI). Critical enabler for blockchain data governance, smart contracts, and tokenisation infrastructure compliance.
REGA's national blockchain infrastructure partner. Powers RE registration and tokenisation. Enterprise-grade. First title deed Nov 2025.
Saudi Arabia's first RWA Center of Excellence (Al Khobar). Open World + VerifyMe (NASDAQ). Energy, RE, carbon credits.
National fintech accelerator. 280+ firms. SAR 2.7B funding. CMA Fintech Lab. SAMA Open Banking. Vision 2030 Financial Sector Development Programme.
ERC-3643 standard. Apex Group partnership. Institutional fund tokenisation.
Purpose-built L1. MAG $10B exclusive GCC partner. MultiBank.io integration.
CMA Fintech Lab participant. Digital wealth management. Sharia-compliant investment products.
REGA Sandbox participant. Fractional ownership platform. Integrated with Real Estate Registry. SAR-denominated transactions.
Fintech Saudi accelerator. Tokenised trade finance. SAMA sandbox participant. Sharia-compliant blockchain.
From REGA's national blockchain infrastructure to SAMA's CBDC exploration — every asset class being positioned for tokenisation under Saudi Arabia's Vision 2030 framework.
Saudi Arabia is positioning itself at the forefront of a global transformation. Ripple and Boston Consulting Group project tokenised real-world assets will surge from $0.6 trillion today to $18.9 trillion by 2033 — a 53% compound annual growth rate.
Money market funds, corporate bonds, government treasuries. BlackRock BUIDL ($2B+ AUM), Singapore Project Guardian. Goal: prove the infrastructure works.
Private credit, real estate, structured finance, commodities. REGA first national RE tokenisation. Open World RWA Center. SAMA mBridge CBDC. 280+ fintech firms. Goal: earn yield, enhance liquidity.
Infrastructure, private equity, illiquid alternatives, Islamic finance instruments. 24/7 global markets. Cross-chain interoperability. DvP settlement standards. Goal: total financial system overhaul.
From the world's first government-supervised RE tokenisation to the Kingdom's first RWA Center of Excellence — every major tokenisation milestone in Saudi Arabia.
World's first national-scale blockchain infrastructure for real estate registration and tokenisation. First tokenised title deed traded between National Housing Company and investors under REGA supervision. SettleMint platform deployed. Technical tokenisation standards publishing early 2026. Saudi PropTech Hub sandbox empowering digital solution providers.
Saudi Arabia's first RWA Tokenisation Center of Excellence (Al Khobar, Jan 2026). Will tokenise energy infrastructure, carbon credits, RE, sovereign bonds, and regulated stablecoins. Merging with VerifyMe (NASDAQ: VRME) for public markets listing. Fully licensed in-Kingdom. Pilot projects mid-2026.
SAMA joined BIS mBridge as full participant (Jun 2024). Multi-CBDC wholesale platform for cross-border payments reached MVP stage. Partners: China (PBoC), UAE (CBUAE), Thailand (BOT), Hong Kong (HKMA). Prior bilateral work: Project Aber with UAE (2019). Digital riyal policy decision expected post-2026. Cross-border oil-trade settlement potential.
First DFSA-approved tokenised money market fund (QCDT). Qatar National Bank + DMZ Finance. US Treasuries on-chain for collateral, stablecoin backing, and settlement.
Saudi fintech sector grew to 280+ companies by 2025. SAR 2.7B in funding. 6,726 jobs created. Fintech Saudi accelerator programme. Makken subsidised services for early-stage firms.
REGA national tokenisation pipeline accelerating. SettleMint infrastructure deployed. Technical standards publishing early 2026. Saudi PropTech Hub sandbox open for applications.
Saudi Arabia maintains one of the most cautious regulatory stances on digital assets globally. While blockchain technology is embraced under Vision 2030, cryptocurrency trading remains prohibited. The Kingdom is building institutional-grade tokenisation infrastructure while controlling retail crypto exposure.
No exchanges, custodians, or ICO platforms hold full Saudi licences. Standing Committee on Unauthorised Securities has prohibited crypto trading since 2018. SAMA blocks bank-to-exchange transactions. ASIC mining equipment can be impounded at customs.
SAMA Regulatory Sandbox allows 6–12 month experiments: remittances, tokenised trade finance, Sharia-compliant blockchain platforms. CMA Fintech Lab (since 2017) provides 2-year experimental permits. Open Banking Lab for testing. Most startups operate outside KSA with research exemptions.
Government experiments focus on interconnecting CBDCs, digital identity wallets, and oil supply chain monitoring via blockchain. Permissioned ledgers only. REGA's tokenisation sandbox is the most advanced production-grade initiative. Vision 2030 aligns blockchain with economic diversification goals.
Minister Majed Al-Hogail announced plans in late 2025 to develop nationally regulated stablecoins under SAMA and CMA joint oversight. The initiative is at policy-design stage — detailed rules on licensing, reserve backing, and consumer protection have not yet been published. This represents Saudi Arabia's clearest signal yet of moving from prohibition to regulated digital asset adoption.
Industry analysts describe 2026 as the year Saudi Arabia's digital asset ecosystem enters a pivotal structural shift — separating Vision 2030-aligned institutional players from the noise.
Crypto trading remains prohibited. Standing Committee enforces 2018 ban.
No crypto exchanges licensed. SAMA blocks bank-to-exchange transfers.
All retail crypto activity technically illegal under 2018 decree
Regulatory uncertainty persists between SAMA, CMA, and MOF jurisdictions
$142B+ RE market. PIF ($925B+ AUM). Vision 2030 mega-projects driving demand.
World's first national RE tokenisation. REGA + SettleMint. Open World RWA Center.
Minister Al-Hogail stablecoin announcement. SAMA/CMA joint oversight planned. mBridge MVP.
REGA PropTech Hub sandbox. CMA Fintech Lab. SAMA Open Banking. Oil supply chain blockchain.
Sources: SAMA, Bloomberg Tax, FCI. Saudi Arabia is advancing taxation rules for tokenised real estate. Foreign ownership liberalised July 2025. SAMA targets 70% digital payments by 2030. Mortgage lending hit record SR 922B in Q1 2025.
Saudi Arabia stands at the intersection of three converging forces: a $142B+ real estate market under Vision 2030, a national-scale blockchain infrastructure for real estate (REGA), and a REGA deploying national-scale blockchain for property registration and fractionalisation.
This convergence positions Saudi Arabia as the global leader in national-scale tokenised real estate — a market Deloitte projects will reach $4 trillion globally by 2035, with Saudi Arabia capturing a disproportionate share due to its government-backed infrastructure, tax advantages, and Gulf mega-project capital flows.
UAE's 0% capital gains tax on property + no income tax creates the highest net-yield environment globally for tokenised RE investors. See UAE Government portal.
Saudi Arabia's $142B+ real estate market and 430K+ housing unit pipeline — the liquidity base that makes tokenised fractional ownership commercially viable at scale.
Saudi Premium Residency programme offers permanent residency for investors and professionals. SAR 4M+ property investment pathways. Tokenised ownership structures could expand eligibility — a potential demand catalyst for fractional real estate investment.
CMA regulates capital markets and securities tokenisation. CMA Fintech Lab provides sandbox for digital asset innovation. Vision 2030 Financial Sector Development Program drives regulatory modernisation.
Saudi Arabia's REGA supervises the Real Estate Registry which deployed national-scale blockchain infrastructure via SettleMint. First tokenised title deed completed Nov 2025. This creates the legal bridge between on-chain token ownership and official property registers.
Complementary framework through the Financial Services Regulatory Authority. Particularly relevant for tokenised fund structures, institutional vehicles, and SPV-based property tokenisation.
Cross-reference governance with our sister platforms:
In November 2025, REGA and the Real Estate Registry launched the Kingdom's national tokenisation infrastructure, establishing the world's first government-supervised framework for converting property title deeds into tradeable digital tokens classification — the world's first purpose-built regulatory framework for tokenised real-world assets including real estate.
Saudi Arabia is the first country to deploy national-scale blockchain infrastructure dedicated to real estate registration, fractionalisation, and marketplace integration. Technical tokenisation standards will be published early 2026 to empower PropTech companies via the Saudi PropTech Hub (SPH) Regulatory Sandbox.
CMA Regulations →ARVA tokens require continuous reserve verification with licensed custodians. Reserves must be segregated from issuer's assets, subject to quarterly audits, and maintain documentation for 8+ years. Redemption rights must be clearly stated in whitepaper.
REGA Standards →30-day transition period from May 19 publication. All licensed VASPs required full compliance by June 19, 2025. Non-compliance: fines and license suspension. Enhanced AML/CTF with quarterly client risk assessments.
REGA Official →| JURISDICTION | FRAMEWORK | RE TOKENISATION | STATUS |
|---|---|---|---|
| Saudi Arabia (CMA) | REGA Tokenisation Standards (2026) | First national-scale RE tokenisation infrastructure | Live · Phase 2 |
| Singapore (MAS) | Project Guardian | SPV-based fund tokenisation | Active |
| EU | MiCA (Jan 2025) | ART classification — limited RE-specific rules | Framework Only |
| Switzerland | DLT Act / FINMA | Blockimmo pioneer — limited scale | Pilot |
| Singapore | MAS Digital Asset Framework | Project Guardian — institutional focus | Sandbox |
| United States | SEC / Reg D exemptions | Aspen St. Regis tokenisation (2018) | Fragmented |
Saudi Arabia is the first country globally to deploy national-scale blockchain infrastructure for real estate registration and tokenisation. Sources: CMA, ESMA, MAS, SEC
Saudi Arabia joins BIS mBridge project (Jun 2024). REGA launches national RE tokenisation infrastructure via SettleMint (Nov 2025). Minister Al-Hogail announces stablecoin plans under SAMA/CMA oversight (late 2025). Open World establishes first RWA Center of Excellence (Jan 2026).
SAMA completes Project Aber bilateral CBDC pilot with UAE (2019). CMA Fintech Lab established (2017). Fintech Saudi initiative launched. By 2023: 216 fintech companies, SAR 2.7B funding, 6,726 jobs created.
SAMA joins BIS mBridge project as full participant (Jun 2024). mBridge reaches MVP stage. CMA begins consulting on offshore securities licences. Mohsen Al-Zahrani appointed to lead virtual assets and CBDC initiatives.
May 19: CMA publishes updates to all twelve regulatory Rulebooks. ARVA framework introduces tokenised asset classification.
Jun 19: Full ARVA compliance deadline for all licensed VASPs.
Nov 2025: REGA completes first tokenised title deed — world's first national-scale RE tokenisation via SettleMint infrastructure.
Minister Al-Hogail announces nationally regulated stablecoins under SAMA/CMA joint oversight. Saudi advances taxation rules for tokenised real estate under Vision 2030. Bloomberg Tax reports regulatory clarity milestone.
Open World establishes Saudi Arabia's first RWA Tokenisation Center of Excellence (Al Khobar). REGA's Non-Saudi Property Ownership System enters force (Jan 22) via Saudi Properties portal. REGA launches second PropTech Regulatory Sandbox with fractional ownership pathway under tokenisation framework.
REGA's national tokenisation infrastructure fully operational. Technical tokenisation standards expected for publication. PropTech sandbox applications open until April 30, 2026. REGA second sandbox includes fractional ownership pathway — 6–24 month testing phase. Kingdom positioned as global reference for registry-based tokenisation.
Transaction data, regulatory updates, and institutional deal flow — delivered every Tuesday. Sourced from REGA, CMA, Deloitte, and S&P Global.
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