Saudi Arabia’s Ministry of Investment invested in Hedera (HBAR), one of the decentralized cryptocurrency projects.
According to the statement made by Hedera Hashgraph, the Ministry of Investment of Saudi Arabia cooperated with Hedera Hashgraph. 250 million dollars in total to be worth five year agreement made.
Hedera, a non-profit and based in Switzerland, will establish the DeepTech Venture Studio in Riyadh.
According to the agreement made in Riyadh, DeepTech Venture Studio will work to support companies in Saudi Arabia. in the studio artificial intelligence, blockchain, internet of things And robotics studies will be carried out in these areas.
Thanks to the partnership between the two parties, the financial economy sector in Saudi Arabia is expected to advance.
According to TradingView data, HBAR gained more than 6% on a daily basis.