Fully decentralized blockchains such as Bitcoin are still not feasible to use at scale due to the lower transaction throughput offered by existing centralized systems, representing one of the main stumbling blocks to broad-based adoption of crypto assets as a means of payment
Saudi banks still sit on a relatively large portfolio of government and private sector securities that can be eventually liquidated to accommodate lending growth
This is a mutually beneficial partnership with the UAE getting access to one of the fastest-growing economies
Tax reforms in the UAE are progressing along with changes to social policy and the business environment, such as no longer requiring the participation of local partners in every business and allowing foreigners to own up to 100% of local companies