Jeel, an innovation subsidiary of Riyad Bank, has signed a partnership with blockchain firm Ripple to explore advanced applications in payments, custody, and tokenization across Saudi Arabia. The collaboration reflects rising institutional interest in blockchain infrastructure as the Kingdom continues to modernize its financial system.
The partnership will focus on evaluating blockchain-enabled cross-border payments, with an emphasis on improving speed, cost efficiency, and transparency across regional trade and remittance corridors. Jeel and Ripple will also assess digital asset custody frameworks and tokenization models, areas increasingly viewed as foundational to next-generation capital markets.
Testing will take place within Jeel’s regulatory sandbox, allowing proofs-of-concept to be developed under controlled and compliant conditions. For Ripple, the agreement provides strategic access to Saudi Arabia’s regulated banking ecosystem, while Jeel strengthens its role in piloting emerging financial technologies aligned with national digital transformation goals.
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