In a significant move to expand its global footprint, Ripple has formed a strategic alliance with Jeel, the innovation and technology division of Riyad Bank. This partnership aims to investigate the potential applications of blockchain technology in areas such as cross-border payments, digital asset custody, and tokenization within Saudi Arabia. By securing a position in a regulated testing environment, Ripple is poised to play a pivotal role in the Kingdom’s ambitious Vision 2030 digital transformation initiative.
Strategic Collaboration Between Ripple and Riyad Bank
Through an announcement on social media platform X, Jeel expressed enthusiasm for this collaboration, noting, “Our partnership with Ripple will delve into advanced applications designed to improve the efficiency and speed of financial transactions. This endeavor will assess use cases for digital asset custody while developing prototypes within Jeel’s regulatory sandbox, contributing to the goals outlined in Vision 2030.”
A press release issued on January 26, 2026, highlighted the collaborative effort to examine how blockchain technology can enhance the “speed, cost-effectiveness, and transparency associated with cross-border payments.” The partnership aims to develop proofs of concept that will allow Ripple’s technologies to be rigorously tested in a compliant environment, fostering scalable financial services across the Kingdom.
George Harrak, CEO of Jeel, emphasized the importance of the sandbox as a vehicle for regulated experimentation with blockchain initiatives. “Our collaboration with Ripple underscores our approach to responsibly explore cutting-edge financial infrastructure,” stated Harrak. “Combining regulatory oversight with unparalleled blockchain expertise, we are laying the groundwork to assess scalable uses that improve cross-border payments and digital asset services aligned with the Kingdom’s long-term objectives.”
Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, echoed these sentiments, indicating that integrating enterprise blockchain solutions into Saudi Arabia’s financial framework directly supports the Vision 2030 agenda. “The Kingdom’s forward-thinking leadership has positioned it as a global leader in digital transformation,” Merrick explained. “This backdrop makes Ripple’s partnership with Jeel an exciting opportunity to explore secure, efficient blockchain solutions in the national financial system, helping to develop a competitive fintech ecosystem.”
Merrick further detailed the collaboration’s focus on diverse use cases, including “cross-border payments, digital asset custody, and tokenization,” expressing enthusiasm about influencing the evolution of Saudi Arabia’s financial infrastructure.
For Jeel, this partnership represents a significant leap beyond traditional fintech innovation into a realm of “regulated blockchain experimentation.” It further empowers Riyad Bank to explore next-generation digital financial services rigorously. For Ripple, Jeel’s innovative sandbox and institutional framework offer a vital entry point into Saudi Arabia’s rapidly growing fintech sector, as highlighted in the press release which positions this partnership as a unique platform to exhibit Ripple’s advanced infrastructure in a “highly regulated, innovation-focused setting.”
As of the latest updates, XRP remains a topic of interest, trading at $1.90.
