How to Create a Cryptocurrency Exchange Platform in Saudi Arabia
As cryptocurrencies grow around the world, many countries have started to use them. Some developing countries are also working on crypto laws. For example, in the past few years, the UAE has become a popular place for crypto projects.
Saudi Arabia is also becoming friendly to blockchain companies and crypto websites. The country has made new plans to grow blockchain technology.
In this article, we will talk about Saudi Arabia’s program for cryptocurrencies and provide some info for people who want to create a cryptocurrency exchange in Saudi Arabia or learn about the cost of crypto exchange development in Saudi Arabia.
Stay with us.
Saudi Arabia and its plans for crypto and blockchain
Saudi Arabia has a strong oil-based economy. It is often ranked in the top 20 countries by GDP. According to the current laws, Bitcoin is legal in Saudi Arabia. People can buy, sell, and trade BTC.
But the government has also warned people about the risks of using Bitcoin and other digital currencies. If someone loses money from crypto, the government will not offer help or protection.
There are now some Bitcoin ATMs in Saudi Arabia, and a few crypto exchanges are working in the country. The government is now more open to crypto projects. It welcomes foreign investors and startups. This is a good time for anyone who wants to create a cryptocurrency exchange in Saudi Arabia.
New crypto position in the central bank
The Saudi Central Bank has created a new job called “Crypto Chief.” This person will study crypto laws and help the country use blockchain and digital currencies in better ways.
Early blockchain programs (2018–2019)
In 2018, Saudi Arabia’s Ministry of Communication worked with ConsenSys to run a Blockchain Bootcamp. It helped people learn how to build apps using Ethereum smart contracts.
Also in 2018, the Saudi Monetary Authority (SAMA) started a project with Ripple. They tested blockchain for international payments. This was the first project like this run by a central bank.
At the same time, the city of Riyadh worked with IBM to use blockchain for city services. Also in 2018, the Saudi British Bank (SABB) joined a global blockchain group called R3. They used Corda, a platform for building blockchain apps.
In 2019, Saudi Arabia and the UAE worked together to create a digital currency for cross-border payments. They called it Aber. It helps the two countries send money faster and cheaper.
New blockchain projects (2020–2024)
In 2020, the Islamic Development Bank in Saudi Arabia worked with a company called Blocko, which is supported by Samsung. Together, they built a blockchain system for smart credit management.
Also in 2020, Saudi Arabia and the UAE worked again with Corda to launch a platform called Wethaq. It helps people buy and sell Sukuk, which are Islamic bonds.
In 2022, the first blockchain academy in the Middle East opened in Riyadh. A Swiss company called BSV built it. The academy teaches governments and businesses how to use blockchain.
In 2023, Saudi Arabia started working with Hong Kong and China to build blockchain systems for global money transfers.
One of the most exciting projects came in 2024, when the Saudi Ministry of Culture launched a metaverse experience called Cultural Universe. It shows Saudi history starting from the year 1727 and lets people explore it in a digital world.
Make sure to read: Difference Between Centralized and Decentralized Exchange
How to create a cryptocurrency exchange Saudi Arabia
1. Learn about crypto rules in Saudi Arabia
Before create cryptocurrency exchange Saudi Arabia, you must understand the country’s crypto laws. Bitcoin is legal to buy and sell, but the government warns users about possible risks. You should also follow any new rules from the Saudi Central Bank or Capital Market Authority.
2. Make a business plan
Write a plan for your OTC or P2P crypto exchange. Include what services you offer (like spot trading or P2P), what audience you target, how you will make money, and what features your platform will have. A clear plan will help you get support from investors or partners.
3. Choose the right legal structure
Decide if you want to register your business as a local company or as a foreign investor. Saudi Arabia welcomes international tech companies, but you may need a local partner and special licenses to operate.
4. Get legal advice
Work with a lawyer who understands Saudi crypto exchange license requirements. They will help you with company registration, tax rules, KYC/AML policies, and license applications.
5. Develop or buy the platform
Choose whether to build your platform from scratch or use a white label crypto exchange in Saudi Arabia. White-label software is faster and cheaper but less customizable. A custom-built platform offers full control.
6. Create a Secure and Scalable System
Make sure your platform has strong security. This includes two-factor authentication, cold wallet storage, and anti-fraud tools. The system should also handle many users and trades at once without crashing.
7. Starting a cryptocurrency exchange in Saudi Arabia
To build a successful cryptocurrency exchange in Riyadh or other Saudi cities, you need a trusted software partner. DigiAlpha is one of the most trusted software companies in the Middle East. We have over five years of experience in fintech and blockchain development. Our team has completed many projects with over 95% customer satisfaction. We continue to grow by building smart digital platforms for clients in Saudi Arabia and beyond.
We help you launch faster with a ready-made crypto exchange or develop a custom platform that includes:
- Secure crypto wallet system
- Fast order matching engine
- Admin dashboard for control
- Charts and trading tools
- API integration
- Advanced security (cold wallets, firewalls)
After launch, DigiAlpha also supports you in getting users through:
- Digital and social media marketing
- Referral programs and bonus rewards
- Influencer partnerships
- Growth campaigns in Saudi Arabia’s crypto space
8. Add KYC and AML systems
You must follow Saudi Arabia’s KYC (Know Your Customer) and AML (Anti-Money Laundering) laws. This means collecting and checking users’ ID information and making sure no illegal activity happens on your platform.
9. Launch and promote your exchange
After testing your cryptocurrency trading platform in Saudi Arabia, go live and start attracting users. Use marketing tools like SEO, social media ads, email campaigns, and local events to build trust and grow your user base.
10. Keep improving and stay legal
The crypto industry changes fast. Keep your system updated, listen to user feedback, and follow new Saudi rules. This will help your exchange stay safe, legal, and competitive.
Make sure to read: How to Create a Cryptocurrency Exchange Platform in UAE
Conclusion
Cryptocurrencies are growing fast and Saudi Arabia is starting to welcome this new technology. The government is supporting blockchain projects and more people are becoming interested in crypto. This makes it a great time to start your own cryptocurrency exchange in the country.
Building a crypto exchange may sound difficult but with the right plan and a good team, it is possible. You need to follow the rules, keep your platform safe, and choose the right COMPANY to help you.
If you want to join the future of finance in Saudi Arabia, now is a good time to take action.
FAQs
1. Can I use a white-label solution instead of building from scratch?
Yes, white-label solutions can help you save time and money. But they do not offer full control and can be harder to upgrade in the future.
2. How long does it take to build a crypto exchange platform?
Usually, it takes about 6 to 9 months. It depends on how many features you want and how complex the system is.
3. Is it legal to start a crypto exchange in Saudi Arabia?
Yes, crypto is not illegal in Saudi Arabia. But you must follow the rules and may need special licenses from the government.
4. Can I launch with only a mobile app instead of a website?
Yes, many people use mobile phones to trade. But having both mobile and web platforms gives a better user experience and looks more professional.
5. What is the hardest part of building a crypto exchange?
The most difficult part is security and following the rules. You are dealing with people’s money and personal data, so your platform must be very safe and follow all laws.