The native token of the crypto exchange WhiteBIT (WBT) is leading the mid-week altcoin market after a significant 20% surge over the past 24 hours. This performance follows the announcement of a key partnership with Durrah AlFodah Holding to promote the growth of blockchain technology in Saudi Arabia.
On Tuesday, top crypto exchange WhiteBIT unveiled it had signed a strategic cooperation agreement with Durrah AlFodah Holding, represented by His Royal Highness Prince Naif Bin Abdullah Bin Saud Bin Abdulaziz Al Saud, aiming to drive the Kingdom’s development in blockchain technology, digital finance, and data infrastructure.
Therefore, it will set the foundation for key projects within the Kingdom, including stock market tokenization, Central Bank Digital Currency (CBDC) guidance, and the creation of national data computing and mining centers.
Under the agreement, WhiteBIT will provide technological expertise and infrastructure design, while Durrah AlFodah will facilitate the crypto exchange’s market entry, regulatory engagement, and partnership development across Saudi Arabia.
The move follows the exchange’s expansion to multiple jurisdictions, including Australia, Croatia, Italy, and Kazakhstan, as well as its recent dual entry into the Argentine and Brazilian markets, after key regulatory advancements in the two largest countries in South America.
It is an honor to work alongside the Holding of His Royal Highness Prince Naif Bin Abdullah Bin Saud to build the foundations of Saudi Arabia’s digital transformation. Together, we aim to establish secure and sovereign blockchain systems that will shape the Kingdom’s technological future.
Notably, the altcoin rallied to new highs in late June and consolidated within its $40-$47 range during the broader market rally between July and October. However, as the market entered a corrective phase in early November, WBT went against the current and broke out of its local range, hitting a new ATH at the time.
Moreover, the altcoin, which ranks 13th among all cryptocurrencies by market capitalization, is currently the only token with double-digit gains among the top 20 cryptocurrencies.
As of this writing, WBT is trading at $60.62, a 9.8% increase for the altcoin in the weekly timeframe.
