Saudi-based fintech company to speed up remittance through cryptocurrency
Abdulaziz Al Jouf, CEO of Saudi-based digital payment solutions company PayTabs.
Despite remaining widely unregulated and highly volatile, cryptocurrency will continue to be used, according to the CEO of Saudi-based digital payment solutions company PayTabs.
Speaking to Arabian Business, Abdulaziz Al Jouf said it is unlikely that the digital currency will be banned.
“Cryptocurrency is here to stay. How this will happen? There are different dimensions and different directions where this will go. Keep in mind that until today, central banks are trying hard to ban [cryptocurrency] because they feel it is out of [their] control,” he said.
Al Jouf said the digital payment was initially launched to protect the financial market in case of a collapse.
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