The Banking Executive Issue - October 2025 Issue

Onchain Finance In Arab Countries global trends in decentralized fi- nance (DeFi) and tokenized assets. The partnership signals growing in- stitutional confidence in blockchain as a foundation for future banking and financial ecosystems in the re- gion. As such, onchain finance in Saudi Arabia is experiencing accel- erated growth, fueled by institutional adoption, government strategy, and rising fintech investment. GROWTH OF ONCHAIN FINANCE IN UAE Onchain finance in the UAE is expe- riencing rapid growth, driven by government-backed innovation, reg- ulatory clarity, and strategic invest- ments in blockchain infrastructure. The UAE has positioned itself as a global leader in digital finance, with initiatives like the Arab Emirates AE stablecoin, pegged to the dirham, de- signed to facilitate onchain pay- ments, trade, and tokenized asset flows. According to Digipay, the country’s fintech market is projected to grow from $2.97 billion in 2024 to $6.42 billion by 2030, reflecting a compound annual growth rate (CAGR) of 13.8%. Regulatory bodies such as the Central Bank of the UAE (CBUAE) and innovation hubs like the Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM) are actively foster- ing blockchain adoption. These ef- forts are transforming the UAE into a regional powerhouse for decentral- ized finance (DeFi), tokenized real- world assets, and programmable money. These partnerships and initiatives are positioning Saudi Arabia as a rising hub for onchain financial innovation in the Middle East. These providers contribute to the UAE’s emergence as a global hub for decentralized finance, tokenized assets, and programmable money. the BANKING EXECUTIVE 80 ISSUE 202 OCTOBER 2025 LEADING PROVIDERS OF ONCHAIN FINANCE IN SAUDI ARABIA Provider Saudi Awwal Bank (SAB) Chainlink Local Fintechs Government Entities Major institutional adopter of blockchain for financial services Blockchain infrastructure provider enabling secure data and interoperability Emerging players exploring DeFi, tokenization, and digital banking Supporting ecosystem through Vision 2030 and fintech strategy Partnered with Chainlink in 2025 to deploy cross-chain interoperability and smart contracts Supplies SAB with Cross-Chain Interoperability Protocol (CCIP) and developer tools Participating in regulatory sandboxes and pilot programs Encouraging blockchain adoption via policy and infrastructure investment Role in Onchain Finance Notable Initiatives ONCHAIN FINANCE PROVIDERS IN UAE Provider Tawreeq Holdings Comarch Middle East FZ LLC Cygnet Digital IT Solutions Defmacro Software DMCC Dubai International Financial Centre (DIFC) Abu Dhabi Global Market (ADGM) Supply Chain Finance (SCF) and Sharia-compliant onchain liquidity solutions EInvoicing and data management solutions with blockchain integration Blockchain-based invoicing and digital finance infrastructure Blockchain-powered tax and finance platforms Regulatory and innovation hub for fintech and blockchain startups Financial free zone supporting blockchain and digital asset firms Offers tokenized working capital tools for SMEs across MENA (tawreeqholdings.com) Pre-approved by UAE Ministry of Finance for electronic invoicing Accredited for UAE’s eInvoicing system by Ministry of Finance in United Arab Emirates Operates ClearTax UAE with onchain compliance tools Hosts accelerators and sandbox programs for DeFi and tokenized finance Provides licensing and regulatory clarity for onchain finance ventures Role in Onchain Finance Notable Initiatives