Saudi launches blockchain tokenisation ‘centre of excellence’

• Supports use across asset classes
• Physical base planned for Al Khobar
• Full operations expected by year-end

Saudi Arabia is launching its first tokenisation “centre of excellence” to support institutional use of blockchain across major asset classes.

Open World, a digital assets infrastructure company, has received approval to set up a physical base in Al Khobar to support the regulated tokenisation of energy infrastructure, real estate and carbon credits.

Initial pilots are targeted for the middle of the year, with full operations expected by the end of 2026.

“Saudi Arabia is leading the global conversation on how digital assets can be deployed in service of national economic priorities,” said Matt Shaw, chief executive of Open World.

Shaw, a former investment banker with more than 25 years’ experience, has been involved in crypto since 2017.

In an interview with AGBI, he said Saudi Arabia’s approach to digital assets is “distinguished by its emphasis on operating at the sovereign and institutional scale”, with initiatives aligned to regulation.

“Rather than focusing on experimentation or isolated pilots, the kingdom is building infrastructure intended to support large, strategic asset classes with clear governance, local oversight and long-term market integration in mind,” he said.

Blockchain technology allows real-world assets to be tokenised, with ownership and transactions recorded on shared digital ledgers rather than centralised systems.

Shaw said the decision to establish the hub underlined the seriousness with which Saudi Arabia treats emerging technologies.

“We are making a long-term commitment to build alongside Saudi partners, under Saudi regulations, with infrastructure that meets the kingdom’s sovereign data and security requirements,” he said.

“Our goal is to help transform Saudi Arabia’s real-world asset base into globally accessible, compliant digital instruments that attract international investment, while ensuring value creation remains within the kingdom.”

Shaw said real estate and carbon credits are well suited to institutional adoption because they already operate within established regulatory frameworks, have clear ownership and cash-flows, and play a central role in the economy. He did not provide examples of specific types of infrastructure that would be tokenised.

Grounded in governance

Regulated stablecoins could follow as frameworks continue to mature. A stablecoin is a digital token designed to hold a steady value, typically by being pegged to a currency such as the US dollar.

“Tokenisation only works at scale when it is grounded in real economic activity and strong governance,” he said.

“We are deliberately focused on institutional applications so blockchain becomes trusted financial infrastructure rather than a speculative market.”

Pilot activity will involve controlled, real-world-use cases rather than public launches and be “deliberately limited”, Shaw said.

Early transactions will be conducted within safe environments, allowing institutions and regulators to test compliance and governance before broader deployment.

The base in Saudi Arabia’s Eastern Province is home to the kingdom’s largest concentration of energy and industrial assets.

It will be located near Al Khobar’s Grand Hyatt, close to Aramco Digital and Saudi Aramco’s global headquarters. There are plans for collaboration with companies in the nearby Dhahran Techno Valley.

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The centre will launch with an initial team of five Saudi nationals. A small number of “internationally experienced professionals” are expected to join as headcount rises beyond 10.

Open World, which has its headquarters in the Cayman Islands, works with governments and large enterprises on digital asset and tokenisation infrastructure.

Shaw said the facility is expected to develop at pace.

“Over the next 12 to 24 months, we also anticipate facilitating at least three large, flagship projects that will leverage the majority of the real-world asset tokenisation components of our platform.”

Dr Salman Salem Al Khaldi, a member of the industry and energy committee at the Eastern Province Chamber of Commerce and Industry, said: “Welcoming Open World to Al Khobar represents a significant step in our region’s digital transformation journey.”