Despite Recent High Volumes, Bitcoin Still Low in Pakistan, Saudi Arabia
Despite there not being much activity in the Bitcoin world of Pakistan and Saudi Arabia, the LocalBitcoin weekly volume in the two new markets reached an all time high in the week of Nov. 5. About SAR 70,000 - approximately $20,000 - was traded in Saudi Arabia that week, while RS 10.8 mln - about $103,000 - was traded in Pakistan. This development indicates not only a surge in interest in the two countries, but the gradual establishment of a young foothold in environments that offer vast potential for the top digital currency. Pakistan: more awareness and the Indian influence. Urdubit is....
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Bitcoin trading volumes in Saudi Arabia via peer-to-peer trading platform LocalBitcoins have never been higher. For the first time, trading volumes in the desert natoin topped USD $100k in bitcoin traded over a week through the decentralized platform. According to data from Coin.Dance, trading volumes last week soared nearly 3x compared to the previous week, with over SAR400,000 in bitcoin traded during the week ending on April 15, a new all-time high. The figure is over 1.5x the previous ATH of SAR260,000. Last week’s record volume totals SAR409,998 traded in bitcoins, approximately....
The Kingdom of Saudi Arabia is looking into the possibility of implementing blockchain technology across its government as well as allowing the use of cryptocurrencies. However, an official said the kingdom can only successfully build blockchain-based solutions if it hires people that are proficient in this technology.
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Saudi Arabia is considering putting into action the use of cryptocurrencies in the kingdom as well as the adoption of blockchain, a report quoting a government official has said. In addition, the report says the....
Pakistan is currently the seventh most populous country in the world with approximately 202 million residents. Today, the country exhibits many traits ripe for accelerated bitcoin adoption. Bitcoin.com discussed bitcoin trends in Pakistan with Danyal Manzar, the co-founder of Pakistan’s first and largest bitcoin trading platform, Urdubit. Huge Freelance....
Blockchain is among six emerging technologies that will be prioritized by the Kingdom of Saudi Arabia (KSA)’s IT decision makers in 2022 and beyond, according to a recent study. Effect of Covid-19 The government of Saudi Arabia’s IT decision makers have named blockchain as one of the six technologies they plan to prioritize in 2022 and beyond, a survey study has found. In addition, the study found that an overwhelming majority of the decision makers agreed that Covid-19 has accelerated Saudi Arabia’s digital transformation. According to a Datatechvibe report, which....
The Saudi Arabian central bank has reportedly appointed Mohsen Al Zahrani as the lead of the bank’s virtual assets and digital currency project. The emergence of the United Arab Emirates (UAE) as the regional crypto hub is believed to have forced authorities in Saudi Arabia to consider formally regulating cryptocurrencies.
Saudi Arabia’s Changing Position on Crypto
According to a report, the Saudi Arabian central bank has selected Mohsen Al Zahrani to lead its virtual assets and digital currency program. The appointment of Al Zahrani, according to the report,....