RIYADH: A new cryptocurrency, Neom Coin, has started trading on one of the world’s largest trading platforms for digital coins BitMart — but it’s not connected to Saudi Arabia’s NEOM.
Its maker, India-based Neom Blockchain Technologies, said the city of NEOM has “no responsibility for the price movements of the cryptocurrency called Neom,” which is an abbreviation for New Earth Order Money.
The statement was released on its account on Twitter, which earlier took it down for violating the social media platform’s rules.
Twitter later “unsuspended” the account after Neom Blockchain “provided official and legal documents to Twitter executives.”
The company claims to be in negotiations with NEOM to provide blockchain and graphene technologies in the futuristic Saudi city. It said it’s also in talks with “many states and smart cities in the Middle East.”
A request for comment has been sent to NEOM’s media office at the time of publication.