Jeel Ripple Partnership Boosts Blockchain Innovation in Saudi Arabia

Jeel, a Riyad Bank subsidiary, partners with Ripple to explore blockchain use cases for cross-border payments, custody, and tokenization in Saudi Arabia

Jeel, the innovation-focused subsidiary of Riyad Bank, has signed a strategic collaboration with blockchain company Ripple to explore advanced distributed ledger technologies aimed at strengthening financial services across Saudi Arabia. Announced in a press release shared with CryptoNews, the Jeel Ripple partnership reflects growing institutional interest in blockchain-based payment systems and digital asset infrastructure as the Kingdom positions itself as a regional fintech leader.

Under the agreement, Jeel and Ripple will focus on building secure, transparent, and scalable digital infrastructure that can support Saudi Arabia’s financial ecosystem and the wider Middle East. The collaboration aligns closely with national digital transformation goals and Vision 2030, which emphasize innovation, efficiency, and global connectivity in financial markets.

Cross-Border Payments, Custody, and Tokenization in Focus

A key pillar of the Jeel Ripple partnership is the exploration of blockchain-enabled cross-border payments. Remittances and trade corridors are critical to the Gulf region, and both firms believe blockchain technology can significantly improve transaction speed, reduce costs, and enhance transparency compared to traditional systems.

Beyond payments, the collaboration will also assess opportunities in digital asset custody and tokenization. These use cases are increasingly seen as foundational to next-generation financial markets, enabling institutions to securely store digital assets and represent real-world assets—such as securities or commodities—on blockchain networks.

Regulatory Sandbox to Support Responsible Innovation

To ensure compliance and risk management, Jeel and Ripple will jointly develop proofs-of-concept within Jeel’s regulatory sandbox. This controlled environment allows Ripple’s blockchain solutions to be tested responsibly while aligning with local regulatory frameworks. Through the sandbox, the Jeel Ripple partnership will examine blockchain-based payment corridors and evaluate custody models that could support institutional adoption.

“This partnership with Ripple reflects our strategy of using the Jeel Sandbox to responsibly explore next-generation financial infrastructure,” said George Harrak, CEO of Jeel. He added that combining regulated experimentation with global blockchain expertise will help evaluate scalable use cases aligned with the Kingdom’s long-term digital ambitions.

Strategic Value for Both Sides

For Jeel, the Jeel Ripple partnership reinforces its role as a pioneer in regulated blockchain experimentation, extending its innovation mandate beyond traditional fintech acceleration. It also supports Riyad Bank’s broader ambition to assess future-ready digital financial services.

Ripple, meanwhile, gains strategic access to Saudi Arabia’s rapidly expanding fintech landscape through Jeel’s institutional network. “Saudi Arabia’s visionary leadership has established the Kingdom as a forward-thinking global hub for digital transformation,” said Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, noting that the Jeel Ripple partnership could help integrate secure blockchain solutions into the national financial architecture.

Together, the collaboration highlights Saudi Arabia’s intent to modernize its banking ecosystem through responsible, scalable blockchain adoption.