Every few months the same question arrives in different forms: "when does NEOM launch its coin?", "will The Line run on blockchain?", "should I buy the NEOM token before listing?". The answer to all three is the same: there is no NEOM coin, no Line token, and no government body has announced a digital asset that individuals can buy. What exists is a 2023 term sheet between the NEOM Investment Fund and Animoca Brands, a project whose priorities are being rearranged towards data centres, and a city called Tabuk where 594,000 people buy crypto exactly the way Riyadh residents do: from their phones.
This page separates three things people mix up: what is happening at NEOM at the corporate level, what a Tabuk resident can do today, and what scammers exploit in the gap between the two.
Tabuk in numbers: a university and garrison city, not a financial centre
The 2022 census puts Tabuk city at 594,350 residents and the metro at 623,665, with the whole Tabuk region at 886,036 people, 28% of them non-Saudi, a far lower share than Riyadh or the Eastern Province. Metro GDP is around USD 29.6 billion at purchasing-power parity, or USD 43,100 per head. The city hosts the University of Tabuk (founded 2006), Fahd bin Sultan University and Prince Sultan International Airport, and historically it is a garrison town and a stop on the Syrian pilgrimage route.
What those numbers mean for crypto: Tabuk is not a financial market. It has no documented fintech events, no university blockchain lab like Medina's, and no engineering cluster like Dhahran's. That is no criticism, but it sets expectations: anyone looking for a local crypto community in Tabuk will find it online, not in a café. Coverage is not the issue; the CST puts national internet penetration at 99.6%, and speeds in the north-west have improved alongside the NEOM works.
And the big rule is the same: Tabuk has no Bitcoin ATM, no shop and no OTCOTC (over the counter)Large trades negotiated directly with a desk instead of on an exchange order book. No OTC desk is licensed in Saudi Arabia; the service exists online through Gulf platforms, usually from USD 50,000 upwards. desk. SAMA has licensed nobody, and the 2018 Standing Committee statement remains the official position. Our legal status page explains why "unregulated" means neither "banned" nor "protected".
NEOM: the honest status, not the promotional video
We write about NEOM as it is, not as it looked in the renders. According to Semafor's report of 22 May 2026, further work on The Line has been deferred to after 2030, the Public Investment Fund is redirecting spending towards ports and data centres, Trojena gets no new money until then, coastal tourism plans have slipped past 2030, and the 2030 population target has been cut to 100,000 or fewer. Earlier, in January 2026, the 2029 Asian Winter Games at Trojena were postponed indefinitely.
What continues is Oxagon, the industrial city on the Red Sea, with roughly USD 3 billion more and utilities and connectivity whose stated purpose is "to attract AI firms to build data centers". In other words, the project's centre of gravity has moved from a 170-kilometre linear city to ports and data centres, which, incidentally, is closer to what any digital economy actually needs.
Animoca and Web3: what it means for a Tabuk resident
The only documented fact linking NEOM to digital assets is the announcement of 31 October 2023: the NEOM Investment Fund signed a USD 50 million convertible-note term sheet with Animoca Brands, with Animoca to help NEOM build digital infrastructure for Web3Web3A label for a generation of internet applications built on blockchain and digital ownership (tokens and wallets) rather than centralised accounts. It covers games, digital identity and tokenised assets., to be deployed first in Riyadh and NEOM. We found no announcement of the deal closing in 2025 or 2026, so we say it plainly: term sheet announced, closing unconfirmed. In the wider context, the Web3 Alliance of Saudi Arabia launched at LEAP 2025, founded by The Sandbox, Animoca and Outlier Ventures, and Animoca is working with KACST on a Web3 hub in Riyadh. All of that is documented on our Vision 2030 and Web3 page.
Now the question that matters: what does it change for you? Nothing at the individual level. Web3 infrastructure at NEOM means games, digital identities and tokenised assets at an institutional level, not a licensed trading platform and not a coin you can buy. The legal frame for a Tabuk resident is the same as everywhere in the Kingdom: trading is unregulated, no exchange is licensed, there is no local protection. Even the government's talk of a stablecoinstablecoinA cryptocurrency pegged to a stable asset such as the US dollar, like USDT or USDC. It does not swing like Bitcoin but depends on trust in its issuer. framework (announced by Minister Majed Al-Hogail in November 2025, with the CMA and SAMA) has produced no published rules and no coin so far. Anyone who reasons from "NEOM invests in Web3" to "so I can buy a NEOM token" is jumping a gap with no bridge over it.
The Red Sea: visitors and workers
Tabuk region also hosts the Red Sea Project's destinations: six were open by September 2025 and Red Sea International Airport is operating. That brings two new groups to this page. The first is the foreign visitor with a foreign card asking whether their exchange works here; yes, the apps work over the internet, but no resort accepts crypto payments, and you pay with mada, international cards and Apple Pay. The second, and larger, group is the construction and engineering workforce on NEOM and Red Sea sites, mostly expats who send part of their salary to South Asia, Egypt or Sudan.
To them we say honestly: USDT is a possible route for sending money, but it is not free. You buy it on P2PP2P (peer-to-peer)You buy from another user on the exchange and send them riyals from your bank or STC Pay, while the exchange holds the coins in escrow until the seller confirms receipt. at a small premiumPremiumThe gap between the USDT price in P2P adverts and the official 3.75 riyal-per-dollar peg. It is the real cost a buyer pays the seller. over the 3.75 peg, you pay the network fee, and the recipient sells it at home at a discount. Compare the total with a transfer through stc bank, Enjaz or Western Union (SAR 15 for an online transfer). And the decisive difference: a bank transfer can be traced and disputed; USDT sent to the wrong address vanishes. Our remittance guide works through the corridors one by one.
How you actually buy from Tabuk
The route is the same as any city because all of it is online. The first option for a beginner: a card purchase in US dollars on a global exchange. CEX.IO, for instance, has operated since 2013, does not list Saudi Arabia among its unsupported countries and serves residents through the group company CEX OVRS LLC; Visa, Mastercard or Apple Pay, minimum 20 USD, and a published card fee range of 0.49% to 4.99% plus a service charge shown before you confirm. Your bank converts riyals to dollars at its own rate and usually adds a foreign-transaction fee. The second option: SAR P2P on Binance or Bybit with a transfer from Al Rajhi, SNB or STC Pay; Binance officially lists urpay and Liv. KSA and charges 0.05 USDT per order on USDT pairs. The eight-exchange comparison has its own page.
- Ignore every "presale"
Start only from known platforms. There is no NEOM, Line or Red Sea coin, and every offer under those names is a scam.
- Verify your identity
Passport or national ID plus a selfie. Expat workers on NEOM sites: keep the passport ready, since acceptance of an Iqama alone is not documented. Our Iqama KYC guide has the details.
- Fund in the way that fits your amount
Hundreds of riyals: card or Apple Pay. Regular thousands: SAR P2P with a transfer in your own name. Never pay from a roommate's account and never accept a third-party transfer.
- Buy and check the network before withdrawing
USDT on TRC-20 is cheapest, on ERC-20 most widely accepted. The wrong network loses the money for good.
- Keep what you are not trading in your own wallet
A mobile wallet whose keys you hold, or a hardware wallet. Tangem ships to Saudi Arabia in 5 to 15 business days, and Jarir sells the Ledger Nano X at SAR 669.
One sentence on risk: prices swing violently, and no Saudi body will compensate you if an exchange fails. Do not put money into crypto that you will need within months.
Real buying starts on a real platformCard or Apple Pay, electronic verification, and the coins land in minutes. No presales, no future tokens.
Get startedTabuk and NEOM at a glance
- Population (2022 census)
- Tabuk city 594,350; region 886,036, 28% non-Saudi
- Universities and airport
- University of Tabuk, Fahd bin Sultan University, Prince Sultan International Airport
- NEOM (May 2026)
- The Line deferred past 2030; Oxagon continuing (data centres and AI)
- NEOM and Web3
- USD 50m term sheet with Animoca (Oct 2023), closing unconfirmed; no coin
- Red Sea Project
- Six destinations open by Sep 2025; airport operating
- ATMs / crypto offices
- None verified in the region or the Kingdom
- Routes that work
- Card or Apple Pay in USD; SAR P2P via bank or STC Pay
Scams using NEOM's name: how to spot them
NEOM's name combines three things fraudsters love: the future, government money and mystery. So adverts regularly appear for a "NEOM token presale", a "PIF-approved crypto fund" or a "Line coin" with monthly returns. The official rule has been clear since 2019: the Standing Committee's warning stated that using the Kingdom's name, currency or emblem to market digital currencies exposes the promoter to legal action, and asked the public to report offers through the SAMA and CMA websites. The Ministry of Finance had already warned in August 2019 about a supposed "digital riyal", and a fake meme coin using the Kingdom's name appeared in February 2025. The full story is on our page Is there a Saudi coin?.
A simple three-step test: is the project announced on the entity's official site (neom.com or pif.gov.sa) rather than on Telegram? Does it ask for a transfer to a personal account or wallet instead of a known exchange? Does it promise a guaranteed return? One wrong answer is enough to walk away. Our scams page collects all the patterns, and the beginners guide shows what a sound purchase looks like.
Frequently asked questions
Is there an official NEOM cryptocurrency?
No. There is no "NEOM coin", no "Line token" and no official digital asset anyone can buy. The NEOM Investment Fund announced a USD 50 million convertible-note term sheet with Animoca Brands in October 2023 to help build Web3 infrastructure; no closing and no coin have been announced since. Anything offered to you for sale under NEOM's name is a scam, and the official 2019 warning stated that using the Kingdom's name or emblem to market digital currencies would lead to legal action.
What is the status of The Line today?
According to Semafor's May 2026 report, further work on The Line has been pushed to after 2030, the Public Investment Fund is redirecting spending to ports and data centres, and the 2030 population target has been cut to 100,000 or fewer. Oxagon continues with about USD 3 billion more and infrastructure aimed at attracting AI companies to build data centres. None of this changes the position of crypto for individuals.
Is there a Bitcoin ATM in Tabuk or at the NEOM sites?
No. No verified Bitcoin ATM exists anywhere in the Kingdom, not in Tabuk and not at the NEOM or Red Sea projects. A 2019 check found the only two listed machines (Jeddah and Jubail) did not exist. Buying happens online, by card or through SAR P2P.
I work on a NEOM or Red Sea construction site. How do I send money home?
The formal options are a bank transfer, the stc bank app, Enjaz, or Western Union (SAR 15 for an online transfer according to its Saudi site). Crypto is a possible alternative through USDT on P2P, but add the seller's premium, the network fee and the selling cost at home, and remember that money sent to a wrong address is not recoverable. Our remittance guide compares the corridors.
Can a Red Sea resort visitor use a crypto card or app?
Exchange apps work over the internet from anywhere and coverage in the Kingdom is excellent. But no resort or restaurant accepts cryptocurrency as payment; you pay with mada, Visa, Mastercard or Apple Pay. Use crypto for investing or sending money if you wish, not for holiday spending.
Why are so many scams built around NEOM specifically?
Because the name combines the future, money and government in one word, which is exactly what a fraudster needs. Common patterns: a "NEOM token presale", a "PIF-approved investment fund", a "Line coin" with monthly returns. Verify nothing on social media; check the official site of the entity instead, and report offers through the SAMA and CMA websites as the 2019 warning asked.
Sources and references
- Semafor — Saudi's NEOM halts work on The Line until after 2030 (22 May 2026)
- AGBI — NEOM rebrands The Line as costs and complexity bite (2026)
- Entrepreneur — Animoca Brands and NEOM Investment Fund: USD 50m term sheet (Oct 2023)
- Zawya — Web3 Alliance of Saudi Arabia launches at LEAP 2025
- Wikipedia — The Red Sea Project (open destinations and airport)
- Wikipedia — Tabuk (2022 census, universities, airport)
- GLMM / GASTAT — population by region and nationality (2022 census)
- Unlock Blockchain — the Bitcoin ATMs listed for Saudi Arabia did not exist (2019)
- Saudi Central Bank — Standing Committee warning on virtual currencies (2018)
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