Ripple, a leading player in the blockchain and digital payments sphere, has officially secured a partnership with Jeel, the innovation and technology arm of Riyad Bank. This collaboration is aimed at exploring the myriad applications of blockchain technology in cross-border payments, digital asset custody, and tokenization within Saudi Arabia. As the Kingdom intensifies its Vision 2030 digital transformation agenda, this venture places Ripple at the forefront of a regulated testing environment.
Ripple Expands In Saudi With Riyad Bank
Jeel announced the partnership via a post on X, expressing enthusiasm for teaming up with Ripple to harness advanced technologies that will enhance the speed and efficiency of payments. The collaboration will center on investigating use cases for digital asset custody and developing prototypes in Jeel’s regulatory sandbox to align with the objectives of Vision 2030.
In a press release dated January 26, 2026, Jeel disclosed that the partnership will assess how blockchain technology can bolster the “speed, cost efficiency, and transparency of cross-border payments” while also delving into potential uses for digital asset custody and tokenization. The initiative anticipates the development of proofs-of-concept within Jeel’s sandbox, facilitating the testing of Ripple’s technology in a controlled and compliant setting, focusing on scalable and interoperable infrastructure for the financial sector within the Kingdom.
George Harrak, CEO of Jeel, emphasized the sandbox’s role as a pivotal mechanism for transforming blockchain concepts into regulated experiments. “This partnership with Ripple exemplifies our strategy of leveraging the Jeel Sandbox to responsibly explore next-generation financial infrastructure,” Harrak stated. He further highlighted the importance of combining regulated experimentation with Ripple’s global blockchain expertise to build a foundation that aligns with the Kingdom’s long-term digital ambitions.
Ripple’s Managing Director for the Middle East and Africa, Reece Merrick, articulated the collaboration as an effort to seamlessly integrate enterprise blockchain solutions into Saudi Arabia’s financial architecture, explicitly linking it to the Vision 2030 roadmap.
“Saudi Arabia’s visionary leadership has positioned the Kingdom as a forward-thinking player in the global digital transformation arena,” Merrick remarked. He added, “It is within this progressive context that Ripple has formalized an MOU with Jeel to explore secure, efficient blockchain solutions within the national financial framework. We aim to showcase how Ripple’s enterprise-level digital assets can drive significant efficiencies in cross-border payments, aligning directly with Saudi Arabia’s vision of fostering a competitive fintech ecosystem.”
Merrick echoed these sentiments in a subsequent post, mentioning the partners’ intent to explore use cases in areas including “cross-border payments, digital asset custody, and tokenization,” expressing enthusiasm for contributing to the evolution of Saudi Arabia’s financial landscape.
This partnership represents not just a strategic alliance for Ripple but also a significant step for Jeel, moving beyond conventional fintech acceleration into the realm of regulated blockchain experimentation. This initiative complements Riyad Bank’s ambitions of evaluating next-generation digital financial services. With Jeel’s sandbox and institutional backing, Ripple finds a pathway into Saudi Arabia’s burgeoning fintech landscape, paving the way for Ripple’s infrastructure to be tested in a “highly regulated and innovation-driven environment.”
As of the latest update, XRP is trading at $1.90.
