Saudi based Blockchain Layer 1 platform Oumla has partnered with Avalanche Blockchain with the aim of creating Saudi Arabia’s first Layer One Blockchain fully hosted in KSA.

As per the X post, ” This collaboration will support startups and SMEs, driving technological innovation across Saudi Arabia and the MENA region.”

In the X post for Oumla they stated, ” By bringing a secure, locally-hosted blockchain platform closer to home, we’re paving the way for growth and innovation aligned with Saudi Vision 2030. This partnership is part of our larger mission to develop the products the region needs to thrive in Web3 and blockchain technology, preparing the MENA market for a seamless transition into the digital future.
We’re excited to bring this vision to life and drive the next wave of technological transformation!”

Oumla in Saudi, offers an intuitive infrastructure that caters to both businesses and government entities. The platform offers a suite of APIs and SDKs, enabling developers to build applications on top of any blockchain, including Ethereum Virtual Machine (EVM)-based networks, without the need to master complex, low-level blockchain-specific protocols.

As per Oumla, its tools are designed to accelerate time to market, enhance development capabilities, and reduce security concerns, making it easier for developers to focus on innovation rather than the intricacies of blockchain technology.

Oumla recently launched a multichain platform, allowing developers to seamlessly integrate and operate across multiple blockchain infrastructures, further expanding the possibilities for innovative projects and solutions.

Recently Oumla received investment from Saudi based Adaverse, a venture capital fund and Web3 accelerator.

The Blockchain ecosystem is growing in Saudi Arabia. In 2024 Adaverse published its first Web3 ecosystem report for the Kingdom of Saudi Arabia showcasing growth, opportunities, as well as challenges. Since its inception, Adaverse has funded 54+ startups across Asia, the Middle East and Africa.

According to the Adaverse report, Saudi Arabia is well positioned to witness growth in the Web3 ecosystem. One of the main reasons is that is it the largest market in GCC with a youthful and tech savvy population. Already 63% of its 36 million residents are under 30, and 99% of Saudi residents are connected to the internet.

In addition, the ambitious Vision 2030 initiative further strengthens this by fostering a robust tech and innovation ecosystem. Saudi Arabia has also seen growth in funding for startups and Web3 ventures.

In 2024, according to Digital Digest, MENA based startups secured $429 million across 163 deals, with Saudi startups receiving 515 of the funding across 36.2% of the deals.