- Ripple partnered with Jeel (Riyad Bank’s innovation arm) to modernize financial infrastructure with blockchain.
- Focus areas include cross-border payments, custody, and tokenization, aiming to improve efficiency and settlement speed.
- Deal strengthens Ripple’s Middle East expansion, positioning it as a key player in Saudi Arabia’s growing digital finance and fintech ecosystem.
Ripple has announced a major update in the Middle East after confirming a new partnership with Jeel, the innovation arm of Riyadh Bank, aimed at advancing Saudi Arabia’s financial infrastructure through blockchain technology.
The collaboration signals Ripple’s growing role in shaping digital finance across the Gulf region in alignment with the Kingdom’s Vision 2030 agenda.
Ripple and Jeel Join Forces to Support Vision 2030
The partnership focuses on exploring blockchain-driven solutions that can modernize Saudi Arabia’s financial ecosystem. According to Ripple, the collaboration will examine use cases in cross-border payments, digital asset custody, and tokenization, areas viewed as critical to the Kingdom’s long-term economic transformation.
Saudi Arabia has positioned itself as a regional leader in fintech and digital innovation, with government-backed initiatives accelerating the adoption of emerging technologies. Ripple’s entry into this ecosystem highlights the increasing role of blockchain in national-scale financial strategies.
Under the memorandum of understanding, Ripple and Jeel will explore how blockchain infrastructure can improve payment efficiency, settlement speed, and cost reduction in international transactions. Cross-border payments remain a central focus, reflecting Ripple’s long-standing expertise in this segment.
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More big news from the Middle East! @Ripple is partnering with @Jeelmovement, the innovation arm of @RiyadBank, to advance Saudi Arabia’s financial future through blockchain innovation 🇸🇦
The Kingdom’s visionary leadership has established Saudi Arabia as a forward-thinking… pic.twitter.com/KhQ7giluhE
— Reece Merrick (@reece_merrick) January 26, 2026
The partnership will also assess digital asset custody solutions and tokenization frameworks, signaling potential future integration of blockchain into asset management and capital markets within the Kingdom.
Ripple Targets Enterprise-Grade Infrastructure for Saudi Finance
In an official statement, Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, emphasized the strategic importance of Saudi Arabia’s digital ambitions.
“Saudi Arabia’s visionary leadership has positioned the Kingdom as a forward-thinking global hub for digital transformation,” Merrick said. “Against this progressive backdrop, Ripple has signed an MoU with Jeel to explore integrating secure and efficient blockchain solutions into the national financial architecture.”
He added that Ripple aims to demonstrate how its enterprise-grade digital asset technology can unlock efficiencies, particularly in cross-border payments, while supporting Saudi Arabia’s ambition to build a competitive fintech ecosystem.
Strengthening Ripple’s Middle East Expansion Strategy
The agreement marks another milestone in Ripple’s regional expansion as it deepens relationships with banks, fintech firms, and government-backed innovation units across the Middle East. The region has become a key growth market for blockchain adoption, driven by regulatory clarity and strong institutional interest.
By partnering with Jeel, Ripple gains a direct pathway into Saudi Arabia’s banking innovation framework, potentially opening doors for broader adoption of RippleNet and related technologies.
Outlook: Blockchain to Play Larger Role in Saudi Financial Future
The Ripple–Jeel partnership underscores Saudi Arabia’s accelerating push toward digital finance and tokenized infrastructure. As Vision 2030 initiatives continue to reshape the Kingdom’s economy, blockchain solutions are expected to play a central role in payments, custody, and asset digitization.
With institutional backing and regulatory alignment, Ripple’s latest move positions the company as a key participant in building the next phase of Saudi Arabia’s financial architecture.
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