The Saudi Arabia Central Bank announced its CBDC Experiment today in a press release. According to the statement, the central bank intends to continue its research into a potential CBDC implementation. The announcement stated that the country intends to continue researching all aspects of a CBDC. Notably, the central bank is working on “a phase of a project that causes on the domestic wholesale CBDC use cases in collaboration with local banks and FinTechs.” Furthermore, the Saudi Central Bank is leading the project, according to the press release.
