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KSA Nisbah, a Subsidiary of Taibah Valley Joins Tezos Ecosystem

By CIOReview | Wednesday, January 13, 2021

Through Nisbah Capital, Taibah Valley becomes the first business organization in the Middle East to engage in the Tezos ecosystem as a corporate baker, thus validating transactions (blocks) and linking them to the Tezos blockchain.

FREMONT, CA: Nisbah Capital, a subsidiary of Saudi Arabia's Taibah Valley, is entering the Tezos blockchain community as a 'baker,' the first in the Kingdom. Taibah Valley also adds Tezos to its Blockchain Lab as part of an effort to build the largest blockchain group in the MENA region, promoting commercialized software, coaching, mentoring, and testing in blockchain and cryptocurrency fields.

"By becoming a Tezos baker, we see an opportunity to spread the knowledge about cryptocurrencies and how they work, and to attract different companies to recognize the potential in the MENA region. In addition, we believe that baking will help build the future of the Tezos blockchain in the region," Raghad Abdulghani, Technical Specialist, Taibah Valley.

Through Nisbah Capital, Taibah Valley becomes the first business organization in the Middle East to engage in the Tezos ecosystem as a corporate baker, thus validating transactions (blocks) and linking them to the Tezos blockchain. This follows the news by EDF Group subsidiary Exaion who became a corporate baker in October.

Participation in the environment as a baker enhances the Tezos ecosystem's decentralization and improves its legitimacy, and paves the way for potential institutional acceptance in the MENA zone. Becoming a Tezos baker is used by Taibah Valley as part of technical service and by groups involved in cryptocurrencies.

Waleed Rassuli, Head, Tezos Gulf, added, "This collaboration with Taibah Valley will be a major driver to stimulate the adoption of decentralized blockchain technologies in the Middle East. Given the increasing number of corporate bakers in the Tezos ecosystem, we think that having one in the Middle East will give local blockchain projects in this region a boost."

Taibah Valley was founded in 2008 to invest and promote projects of real economic benefit and positive effects on Saudi Arabia and the MEA region. Its focus areas are blockchain, the Internet of Things, and artificial intelligence.