SOLOWIN signs MoU with Saudi company to
boost digital infrastructure
SOLOWIN Holdings (NASDAQ: SWIN) has
signed a three-year Memorandum of Understanding (MOU) with CITIC Contracting
Company, a subsidiary of China CITIC Group, to accelerate the development of
digital infrastructure in Saudi Arabia. The collaboration will focus on data
science, commercial real estate, and logistics parks, aligning closely with the
Kingdom’s Vision 2030 strategy for digital transformation and economic
diversification.
The partnership combines SOLOWIN’s
expertise in regulated stablecoin infrastructure and real-world asset (RWA)
tokenization with CITIC’s deep capabilities in real estate investment and
execution. Together, the two companies aim to modernize traditional assets
through Web3 technologies, opening new opportunities in the Middle East’s
evolving digital economy.
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“This agreement represents a
strategic entry into the Saudi market and supports our mission to bring Web3
innovation into real-world applications,” SOLOWIN said in a statement. “By
leveraging CITIC’s proven track record as one of the world’s top contractors,
we can establish a strong foundation for growth across key sectors.”
While the MOU is non-binding and
detailed investment terms will be finalized in future agreements, the framework
positions SOLOWIN to gain a first-mover advantage in asset tokenization within
the region. The initiative also extends the company’s global Web3 finance
activities into one of the world’s fastest-growing markets.
With CITIC’s global ranking among ENR’s
Top 250 contractors and SOLOWIN’s leadership in Web3 finance, the collaboration
sets the stage for new investment vehicles, enhanced market efficiency, and
digital modernization in Saudi Arabia’s construction and infrastructure
ecosystem.
Source: https://www.stocktitan.ne
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