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Cisco Boosts Investment & Digitization In Saudi Arabia
The tech giant unveiled plans for a new regional headquarters in Riyadh and announced the third phase of its Country Digital Acceleration (CDA) Program.
At LEAP 2024, digital communications technology giant Cisco revealed new strategic initiatives in Saudi Arabia that will grow the company’s long standing presence in the region and reaffirm its commitment to local customers. Based on a Regional Headquarters license issued by the Ministry of Investment in 2023, Cisco unveiled plans for a new regional head office in Riyadh and the beginning of the third phase of its Country Digital Acceleration (CDA) Program.
HE Vice Minister of Communications and Information Technology, Eng. Haitham bin Abdul Rahman Al-Ohali commented: “Technology is a key enabler in achieving the Saudi Vision 2030. Investments of global tech players like Cisco play a crucial role in strengthening our technology landscape, [bringing] the Kingdom forward on its path to a diversified, knowledge-based economy”.
As well as a brand new headquarters, Cisco’s Country Digital Acceleration (CDA) Program will align with the goals of the Saudi Research and Development National Strategy, focusing on Health and Wellness, Sustainable Environment & Affordable Supply of Essential Needs, Energy & Industrial Leadership, and Economies of the Future.
First launched in Saudi Arabia in 2016, the CDA program has supported digitization and helped to develop innovation in sectors including healthcare, education, smart cities, and government digitization. Cisco has now trained over 335,000 people in the Kingdom on cybersecurity, programming, and networking while also collaborating with King Abdullah University of Science and Technology (KAUST), Saudi Authority for Data and Artificial Intelligence (SDAIA), and Vision 2030 Giga Projects.
Also Read: Fintech In The UAE Is Set To Add $900 Per Capita By 2030
“Today’s announcements reinforce Cisco’s commitment to support the digital ecosystem in Saudi Arabia,” explained Salman Faqeeh, Managing Director, Cisco Saudi Arabia. “I am proud of what we have achieved through our longstanding presence in the Kingdom and via our active programs like CDA and Cisco Networking Academy, and I am looking forward to more milestones. With our technologies spanning every IT and business objective, from networking to security, collaboration, monitoring, application development, and more, Cisco continues to be at the heart of driving digitization together with our customers and partners”.
News
Dirham-Backed Stablecoin DDSC Enters Live Phase In UAE
Central Bank approval moves the dirham-backed token into deployment, targeting regulated payments and settlement flows.
The UAE has cleared the launch of DDSC, a dirham-backed stablecoin now entering live operation after approval from the Central Bank. The move pushes the project beyond its pilot phase and into the country’s regulated financial system.
The token is backed by a consortium led by IHC, Sirius International Holding and First Abu Dhabi Bank (FAB), framing it as an institutional instrument rather than a consumer crypto product. DDSC was first announced in April 2025, but regulatory clearance now allows deployment and integration across approved channels.
DDSC runs on ADI Chain, a Layer 2 blockchain built by the Abu Dhabi-based ADI Foundation. The infrastructure is designed for governance and performance requirements expected by large institutions, linking blockchain settlement with existing compliance and oversight frameworks.
The focus is practical, targeting treasury settlements, high-value payments, trade and supply-chain transactions, and programmable financial flows for regulated entities. FAB plans to offer access to the token through approved platforms for its clients, keeping the rollout inside controlled banking environments.
“DDSC marks a defining milestone in the UAE’s digital finance journey,” said Syed Basar Shueb, CEO of IHC. “With the Central Bank’s approval and our transition into live operation, we are delivering trusted, institutional-grade infrastructure that strengthens resilience, accelerates innovation, and expands what is possible in regulated digital payments”.
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FAB says the project reflects how stablecoins can sit within traditional finance when risk controls are built in from the outset. “This milestone underscores that stablecoins can be integrated responsibly into the financial system when built to meet rigorous regulatory and risk requirements,” said Futoon Hamdan AlMazrouei, Group Head of Personal, Business, Wealth and Privileged Client Banking Group at FAB.
The launch reinforces the UAE’s strategy of pushing digital finance through regulation instead of open-ended crypto experimentation. Stablecoins in this model are positioned less as trading assets and more as programmable extensions of national currency, aimed at institutional scale and government use cases.
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