Hong Kong and Saudi Arabia are planning to increase their financial collaboration, particularly in the areas of tokenization and payment infrastructures. In a recent meeting between the Saudi Central Bank (SAMA) and the Hong Kong Monetary Authority (HKMA), both entities discussed key initiatives such as advancing financial infrastructure, enhancing market connectivity, and promoting sustainable development. They also signed a Memorandum of Understanding (MoU) to promote joint discussions on financial innovation. However, the official joint announcement did not clarify if the partnership would involve joint crypto-related efforts. While Hong Kong recently allowed retail investors to trade crypto, Saudi Arabia has remained quiet on its stance towards crypto since 2019.

Source: https://cointelegraph.com