Story perspectives

Saudi Arabia's Fintech Boom: $2.4 Trillion Market by 2025

9/17/2025

Summary

Story summary

The Money20/20 Middle East event in Riyadh featured over 450 fintech brands and 1,050 investors, highlighting the sector's growth.
Saudi Arabia's capital market is expected to surpass SAR 2.4 trillion by Q2 2025, with digital payments increasing from 18% in 2016 to 79% in 2024.
The Capital Market Authority has adopted AI for improved data processing and launched an omnibus system for smaller clients.
Stargate Hydrogen signed a MoU with Saudi Arabia’s RDI to enhance green hydrogen innovation, establishing a regional headquarters in Riyadh.
HPE introduced a local cloud instance in Saudi Arabia, boosting AI-native networking capabilities and supporting Vision 2030 objectives.

History

Historical Context

In 2016, Saudi Arabia initiated Vision 2030 to reduce its oil dependency, aiming for economic diversification. By 2024, digital payments surged by 79%, reflecting a fintech shift bolstered by the 2018 launch of the Saudi Fintech Hub, which supported over 450 fintech brands. This transformation is crucial for enhancing economic resilience and establishing Saudi Arabia as a digital economy leader in the Middle East.

1 of 2

Story summary

The Money20/20 Middle East event in Riyadh featured over 450 fintech brands and 1,050 investors, highlighting the sector's growth.
Saudi Arabia's capital market is expected to surpass SAR 2.4 trillion by Q2 2025, with digital payments increasing from 18% in 2016 to 79% in 2024.
The Capital Market Authority has adopted AI for improved data processing and launched an omnibus system for smaller clients.
Stargate Hydrogen signed a MoU with Saudi Arabia’s RDI to enhance green hydrogen innovation, establishing a regional headquarters in Riyadh.
HPE introduced a local cloud instance in Saudi Arabia, boosting AI-native networking capabilities and supporting Vision 2030 objectives.

1 / 2