$XRP Riyad Bank’s Jeel Partners With Ripple to Expand Blockchain Finance in Saudi Arabia
Jeel, the innovation and fintech arm of Riyad Bank, has announced a strategic collaboration with Ripple to advance blockchain-based financial services in Saudi Arabia, according to NS3.AI.
The partnership will focus on key areas including cross-border payments, digital asset custody, and tokenization. As part of the initiative, proof-of-concept projects will be conducted within Jeel’s regulatory sandbox, ensuring alignment with local compliance and regulatory standards.
This collaboration reflects Saudi Arabia’s broader push toward modernizing its financial infrastructure and adopting emerging technologies under a regulated framework. By leveraging Ripple’s blockchain solutions, the initiative aims to improve transaction efficiency, transparency, and interoperability in regional and international financial flows.
The move strengthens Saudi Arabia’s position as a growing fintech and digital finance hub in the Middle East, while highlighting increasing institutional interest in blockchain-based payment and settlement systems.
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