Hong Kong and Saudi Arabia collaborate on tokens and payments
The Saudi Central Bank warned in 2019 that Bitcoin is “not recognized by legal entities” but hasn’t made many statements on crypto since. Hong Kong is expanding its financial collaboration with the Kingdom of Saudi Arabia, targeting agreements related to tokenization and payment s infrastructure. The Saudi Central Bank (SAMA) and the Hong Kong Monetary Authority (HKMA) on July 26 held a bilateral meeting to strengthen the integration of financial services between the two countries. As part of the meeting agenda, the HKMA and the SAMA discussed initiatives such as financial infrastructure development, open market operations, market connectivity and sustainable development. The central banks also signed a memorandum of understanding (MoU) to promote joint discussions on financial innovation. HJMA chief executive Eddie Yue (left) and SAMA governor Ayman Alsayari (right). Source: HKMA According to an official joint announcement, Hong Kong and Saudi Arabia’s authorities also took the oppor...