Saudi Arabia sees 51% surge in blockchain business registrations by Q2

09/07/2025 04:42 AST

Business registrations for blockchain technologies in Saudi Arabia surged by 51 percent year-on-year by the end of the second quarter of 2025, according to figures released Tuesday by the Ministry of Commerce.

The rise in registered blockchain businesses marks a significant milestone in the Kingdom's ongoing efforts to modernize its economy and accelerate digital transformation.

The number of registered blockchain businesses climbed to 4,005, up from 2,644 in the same period last year. Riyadh accounted for the lion's share, with 2,463 active records, followed by Mecca with 806, the Eastern Region with 430, Medina with 104, and Al Qassim with 51.

The ministry said the uptick underscores growing interest among entrepreneurs and companies in deploying advanced digital solutions, including distributed ledger technologies. It also signals mounting confidence in the Kingdom's regulatory framework and digital infrastructure.

As part of Crown Prince Mohammed bin Salman's Vision 2030 initiative - a sweeping national plan to reduce reliance on oil, diversify the economy, and foster innovation - Saudi Arabia has increasingly positioned itself as a regional hub for emerging technologies. The Kingdom has prioritised investment in fintech, artificial intelligence, and blockchain, with state-led initiatives and private-sector partnerships accelerating adoption.

The latest figures bolster the Kingdom's push to attract tech talent and investors, aligning with broader goals to become a leader in digital innovation across the Gulf.

Bloomberg