Building Infrastructure for Financial Modernization
Partnership with SAMA for Vision 2030 Goals
Executive Summary
This initiative proposes the development of a regulated stablecoin infrastructure designed to enhance Saudi Arabia's financial ecosystem while supporting SAMA's strategic objectives.
SAMA Partnership: Designed as infrastructure SAMA can regulate, oversee, and leverage for national objectives
Immediate Use Cases: Remittance optimization, B2B cross-border payments, and financial inclusion for underserved populations
Technical Expertise: DevLab Technologies brings +20 years of software engineering experience with security-first architecture
Regulatory First: Compliance and SAMA coordination built into every phase, not an afterthought
The Problem We're Solving
Current Challenges
Remittance costs averaging 3-5% for workers sending money home
Cross-border B2B payments take 2-3 days through traditional banking
Limited banking access for migrant workers in certain sectors
Regional payment inefficiencies between GCC countries
Payment infrastructure fragmentation across government services
Strategic Opportunity
$40B+
Annual remittances through Saudi Arabia
13M
Migrant workers in Saudi Arabia
2030
Vision target year for full digitalization
Our Proposed Solution
A regulated stablecoin infrastructure built on established blockchain technology, with full SAR backing and SAMA oversight.
100% SAR-Backed: Every token backed by equivalent Saudi Riyals held in regulated banks, audited quarterly
SAMA-Regulated: Operating under SAMA's regulatory framework and sandbox, subject to full oversight and compliance audits
Secure & Scalable: Enterprise-grade backend infrastructure built for high transaction volumes and 99.9%+ uptime
Interoperable: Designed to integrate with existing Saudi payment systems (SARIE, mada, etc.)
Transparent Reserve Verification: Public auditing and real-time reserve verification mechanisms
KYC/AML Compliant: Full FATF and SAMA compliance, user verification, transaction monitoring, suspicious activity reporting
Use Cases & Implementation
Phase 1: Remittances & Workers
Reduced remittance costs from 3-5% to <0.5% for migrant workers
Direct integration with employer payroll systems
Partnership with mobile operators for cash-in/out services
Phase 2: Cross-Border B2B
Real-time payments between Saudi and GCC merchants
Integration with existing trade finance systems
Support for e-commerce settlement
Phase 3: Financial Inclusion & Government Services
Digital wallets for underbanked populations
Government subsidy and benefits distribution
Future foundation for SAMA's own CBDC if desired
Technical Architecture
Blockchain Infrastructure: Built on established, battle-tested networks (e.g., Ethereum/Polygon) or proprietary blockchain if SAMA prefers, with enterprise-grade security audits.
Smart contracts audited by top-tier security firms
Multi-signature wallets for reserve management
Real-time settlement and transaction finality
Backend Infrastructure: 10+ years of experience building secure, scalable systems.
Bank-grade security and encryption
API-first architecture for seamless integration
Real-time transaction processing and settlement
Disaster recovery and high-availability systems
Compliance Layer: Integrated monitoring and reporting for SAMA oversight.
Real-time AML/KYC verification
Transaction monitoring and reporting
Audit trails and forensic capabilities
Regulatory & Compliance Framework
Path to Authorization:
Apply for SAMA Fintech Regulatory Sandbox as first step
Work with SAMA's Innovation Hub on framework development
Comply with existing Anti-Money Laundering and Combating Terrorism Financing regulations
Adhere to Payment Systems Regulations and SAMA Policy Guidelines
Full transparency and regular compliance audits
Team Structure for Success:
Regulatory & Legal: Senior advisor with SAMA experience (to be hired)
Banking Relationships: Partnerships with SAMA-licensed banks for reserve holding
Technology: DevLab Technologies' 20+ years of software engineering expertise
Operations: Compliance officer and AML/KYC specialists (to be hired)
Timeline & Milestones
Months 1-2: Regulatory Engagement
Apply to SAMA Sandbox, hire regulatory advisor, establish banking relationships, finalize legal framework
Months 3-6: Development & Testing
Build core infrastructure, security audits, compliance systems integration, sandbox testing with SAMA
Months 7-9: Pilot Launch
Limited pilot with selected participants, real transaction testing, performance validation, regulatory feedback incorporation
Months 10-12: Full Launch
Public launch with Phase 1 (remittances), expansion to partner institutions, ongoing SAMA monitoring
Risk Management & Mitigation
We understand the challenges and have concrete mitigation strategies:
Regulatory Risk
Mitigation: Deep SAMA engagement from day one, regulatory advisor on team, compliance-first architecture, full transparency in all operations
Technology Risk
Mitigation: Third-party security audits, redundant systems, insurance coverage, experienced team with proven track record
Adoption Risk
Mitigation: Start with high-value use case (remittances), partner with established financial institutions, phased rollout, user education programs
Reserve Risk
Mitigation: 100% SAR backing in SAMA-regulated banks, quarterly third-party audits, real-time reserve verification, segregated accounts
Why Now? Why Us?
Why Now?
Vision 2030 actively pushing digitalization
Global trend toward CBDCs and stablecoins accelerating
Regional opportunities (GCC cooperation) emerging
Technology now mature and battle-tested
SAMA actively exploring fintech solutions
Why DevLab Technologies?
20+ years software engineering excellence—security and scale built in
Established US-based company expanding strategically to Saudi Arabia
Commitment to regulatory compliance, not workarounds
Willing to build as SAMA's infrastructure partner, not competitor
Proven ability to execute complex technical projects at enterprise scale
What We're Asking For
We're not asking for capital or regulatory shortcuts. We're asking for engagement and clarity:
SAMA Sandbox Guidance: Clear pathway and requirements for regulatory approval
Regulatory Clarity: Confirmation of regulatory framework and compliance requirements
Banking Partnerships: Introduction to SAMA-regulated banks willing to hold reserves
Strategic Feedback: Guidance on priorities and use cases most valuable to Saudi Arabia
Government Service Integration: Potential integration points with existing government systems (when appropriate)
We commit to: Full transparency, complete regulatory compliance, quarterly reports to SAMA, third-party audits, and operating as your trusted partner—not a competitor.
Questions & Discussion
Thank you for this opportunity to contribute to Saudi Arabia's financial future.
Ready to discuss next steps and answer your questions.