Hassan Maishera
COTI announced on Wednesday, April 30th, that it has become a founding member of the Saudi Arabia AI and Blockchain Centre (SAAIBC).
In a press release shared with Cryptowisser, COTI announced that the centre brings together Saudi Arabian leaders, policymakers, and practitioners through a shared mission to accelerate the adoption of AI and blockchain across the MENA region and broader Africa.
COTI becoming a founding member reflects a continued interest in the region and in the application of real-world assets (RWAs) to bridge traditional finance with blockchain economies.
According to COTI, the economic landscape of MENA and broader Africa, presents one of the most dynamic environments for technological advancement globally. Saudi Arabia’s Vision 2030 aims to transform the Kingdom into a global AI powerhouse with unparalleled levels of investment. This includes the Public Investment Fund (PIF), a $40 billion AI fund, and Project Transcendence, a $100 billion initiative to build investment into data centers, startups, and AI infrastructure.
COTI added that strategic partnerships, such as a $1.5 billion commitment from AI chip startup Groq, further reinforce the Kingdom’s ambitions to leverage technologies on a global scale.
Thanks to these investments, the Saudi AI market alone is forecast to grow to approximately $61.85 billion by 2033, expanding at an impressive CAGR of 46.6%.
As a founding member of SAABIC, COTI will bring deep insight into compliant confidentiality, auditability, and ways to bridge the gap between traditional finance and Web3 technologies.
COTI’s technology addresses the most significant barrier to institutional adoption of public blockchain, compliant privacy. COTI’s fast, efficient privacy technology unlocks RWAs, a multi-trillion-dollar opportunity that spans lending, national infrastructure, commodities, and everything in between. RWAs are poised to play a central role in supporting the adoption and integration of AI and blockchain across global markets.
SAABIC Launches During RWA Summit Roundtable in Dubai
SAABIC was officially launched today during the Real-World-Asset Summit in Dubai. This event provides the ideal backdrop to engage directly with key stakeholders driving the evolution of technology at the highest levels.
COTI revealed that SAAIBC members joined the RWA Summit roundtable alongside top leaders from government, investment, and technology to address the major challenges to tokenization across MENA and broader Africa.
Held at the iconic Burj Al Arab, and coinciding with the TOKEN2049 conference, the event brought together a cohort of 40 distinguished guests, including notable government leaders and royal family members from the United Arab Emirates, Kingdom of Saudi Arabia, Republic of Kazakhstan, Republic of Nigeria, Republic of Sierra Leone, France, and the United Kingdom, as well as investors representing nearly half a trillion USD in AUM.
Discussions centered around issues such as regulatory clarity, trust-building between TradFi and DeFi, and the future of asset tokenization.
While commenting on this latest development, Shahaf Bar-Geffen, CEO, COTI, stated that,
“This is a rare opportunity to shape blockchain policy and infrastructure at an early stage throughout Africa and the MENA region. By bringing together infrastructure providers, including COTI, with investors, government officials, and businesses, we will be able to trial meaningful projects with input from all relevant stakeholders, giving the greatest possible chance of success.”
