$2Tn Saudi Aramco Considers Collaborating with SBI, a Japanese Cryptocurrency Group


The Japanese cryptocurrency banking conglomerate SBI Holdings has stated it is seeking a relationship with Saudi Aramco (SAOC), the state-owned oil company of Saudi Arabia, following the signing of a fundamental agreement for a business partnership.

Stay in the know on crypto by frequently visiting Crypto News Today

In fact, a report released on December 11 states that this alliance anticipates co-investing in each other’s digital asset portfolios as well as developing projects together, like building semiconductor factories on Saudi Arabian and Japanese territory.

The cooperation would specifically focus on three areas: finding and supporting Japanese cryptocurrency startups that are interested in expanding to Saudi Arabia; cooperating and making joint investments in the cryptocurrency space; and initiating semiconductor-related projects, like building factories in both countries.

As it happens, SBI has been pushing hard for projects in the Middle East, especially when it comes to forming investment funds with regional partners. In order to do this, efforts are also underway to open “SBI Middle East” in Riyadh, which will aid in the promotion of Japanese cryptocurrency firms in Saudi Arabia.

Apart from considering a collaboration with Saudi Aramco for semiconductor manufacturing endeavors, SBI has partnered with Taiwanese chip manufacturer Powerchip Technology Corporation to establish a plant in Japan’s Miyagi Prefecture.

Crypto and Saudi Arabia

According to an annual report released earlier this year, Saudi Arabia, which is aiming to become a major cryptocurrency hub in the Middle East, topped the relevant charts between July 2022 and June 2023 and was ranked as the nation with the highest growth volume of crypto transactions over a 12-month period.

Compared to the same time in 2021–2022, the kingdom had a notable global lead in year-over-year (YoY) growth in cryptocurrency transaction volume, reaching approximately $31 billion from July 2022 through June 2023. Spain with 6.9%, Nigeria with 9%, and Vietnam with 11.6% were its runners-up.

Furthermore, the Middle East and North Africa (MENA) has been recognized in Chainalysis’ annual report for 2019 as having the sixth-largest crypto economy globally, valued at $390 billion between July 2022 and June 2023. This puts MENA behind leading regions such as North America and Western Europe.CRYPTOCASTER® - DECENTRALIZED FREEDOM!

We hope you appreciated this article. Before you move on, I was hoping you would consider taking the step of supporting CryptoCaster’s journalism. 

From  Elon Musk, Larry Fink(BlackRock) to Jamie Dimon(JP Morgan Chase) a number of billionaire owners have a powerful hold on so much of the hidden agendas’ which eludes the public concerning the paradigm shift juxtaposed by cryptocurrency and web3 emerging technologies. CryptoCaster is different. We have no billionaire owner or shareholders to consider. Our journalistic efforts are produced to serve the public interest in crypto development and institutional disruptions – not profit motives.

And we avoid the trap that befalls much U.S. and global media – the tendency, born of a desire to please all sides, to engage in false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency dictates everything we do, we know there is a right and a wrong position in the fight against fiat global banking interest and monetary reconstruction precipitated by the emerging crypto ecology.

When we report on issues like the FTX, Binance and Ripple crisis, we’re not afraid to name who or what is uncovered. And as a crypto sentinel, we’re able to provide a fresh, outsider perspective on the global monetary disruption – one so often missing from the insular American and European media bubble. 

Around the world, readers can access the CryptoCaster’s paywall-free journalism because of our unique reader-supported model. That’s because of people like you. Our readers keep us independent, beholden to no outside influence and accessible to everyone – whether they can afford to pay for news and information, or not.

We thankyou for the on-going support our readers have bestowed monetarily. If you have not considered supporting CryptoCaster, if you can, please consider supporting us just once from $1 or more of Bitcoin (satoshi) or Eth, and better yet, support us every month with a little more. Scroll further down this page to obtain CryptoCaster’s wallet addresses.

Thank you.

Kristin Steinbeck
Editor, CryptoCaster

Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.

Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt


You may also like