Stablecoins ‘new foundation for global value movement’: Al-Hogail

Majid Al-Hogail, Minister of Municipal, Rural Affairs, and Housing

The world is witnessing a redefinition of the financial infrastructure, as stablecoins have become a new foundation for the global value movement, said Majid Al-Hogail, Saudi Minister of Municipal, Rural Affairs, and Housing, at the Global PropTech Summit 2025.

Data has become a political tool that translates policies into measurable outcomes, he said.

The stablecoins represent a modern infrastructure for settlements and a major step toward achieving financial sovereignty. If carefully integrated into Saudi regulations through the use of national systems and in line with Saudi values, they will create a faster and more secure financial system, the minister said.

This transformation, for Saudi Arabia, carries a strategic dimension that extends beyond technology. Stablecoins, he said, enable the flow of value at the same speed as the flow of information, allowing for instant real estate settlements, automated escrow accounts, and more seamless cross-border investments.

A developer in Riyadh can now obtain reliable capital from Singapore or London within seconds, while maintaining full compliance with Saudi data laws and financial regulations.

Moreover, every digital riyal or dollar is backed by reserves that the regulatory authority can access, audit, and monitor, Al-Hogail said.

The Kingdom is moving toward a more transparent, efficient, and sustainable financial and real estate ecosystem, he said.

Riyadh is advancing to become a global center for innovation, smart real estate financing, and quality of life, the minister stated.