The Global Proptech Summit in Riyadh, organized by Public Authority for Real Estate on October 26 and 27, 2025, witnessed important statements by the Minister of Municipalities and Housing, H.E. Mr. Majid bin Abdullah Al-Hogail, where he confirmed that stablecoins have become one of the fastest growing digital finance sectors in the world, after their market value exceeded $ 300 billion, which reflects the major shift witnessed by the global economy towards decentralized financial systems and modern digital solutions.

While the global economy is undergoing a major shift towards decentralized financial systems and modern digital solutions. In his speech at the opening of the World Proptech Summit on Sunday, Al-Hogail said that cryptocurrencies recorded transactions exceeding $9 trillion in 2024, while the volume of transactions in September 2025 alone reached more than $1.2 trillion, equivalent to five times the annual trading volume of PayPal, noting that this development reflects the accelerated adoption of stable and secure financial solutions by the world.

Hogail said in his speech at the opening of the World Proptech Summit on Sunday. <The Minister of Municipalities and Housing explained that Saudi Arabia is moving steadily towards integrating stable currencies into the real estate sector by facilitating their flow to enable developers to obtain financing from global financial centers such as London and Singapore within seconds, which contributes to enhancing the efficiency of real estate financing and accelerating international investment.
He added that these efforts come within the framework of the Kingdom's Vision 2030, which focuses on promoting financial innovation and stimulating digital transformation in vital economic sectors, especially real estate development.

What are stable currencies?

Stablecoins are a type of cryptocurrency designed to reduce price volatility by being pegged to the value of stable assets, such as fiat currencies or commodities. Unlike other cryptocurrencies that can fluctuate wildly over a short period, stablecoins aim to provide a more stable store of value, making them ideal for transactions and as a means of exchange in the cryptocurrency ecosystem.

Stablecoins are a type of cryptocurrency designed to reduce price volatility by pegging the value of stable assets, such as fiat currencies or commodities. <Stablecoins have become a vital element in the operation of cryptocurrency markets and are under increasing scrutiny from regulators who are beginning to impose rules on the sector. <Stablecoins are not widely used to purchase goods and services, but are purchased by cryptocurrency investors as a safe way to keep their profits without having to convert them back into real money. They are also used as a convenient intermediate currency when switching between different digital assets or multiple trading platforms. There are dozens of stablecoins currently in circulation, the most popular of which is Tether, which can be exchanged for thousands of other cryptocurrencies.

There are dozens of stablecoins in circulation, the most popular of which is Tether, which can be exchanged for thousands of other cryptocurrencies.