Jeel and Ripple Partner to Explore Advanced Blockchain Applications for Financial Services in Saudi Arabia
Riyadh, Saudi Arabia – Jeel, the innovation and technology arm of Riyad Bank, has announced a strategic partnership with Ripple, a global financial technology company specializing in blockchain and digital asset solutions, to explore advanced blockchain applications aimed at delivering more secure, efficient, and transparent financial services across the Kingdom of Saudi Arabia.
The partnership focuses on assessing how blockchain can enhance the speed, cost efficiency, and transparency of cross-border payments, while also exploring potential use cases for digital asset custody and tokenization, in alignment with Saudi Arabia’s Vision 2030 objectives for digital transformation and fintech ecosystem growth.
Under the collaboration, Jeel and Ripple will evaluate blockchain-enabled payment corridors to improve international remittance experiences, alongside future-ready frameworks for digital asset custody that meet regulatory and operational requirements. The companies will also develop proofs of concept within the Jeel Sandbox, enabling Ripple’s technologies to be tested in a controlled and compliant environment.
These initiatives are expected to support the Kingdom’s fintech sector by demonstrating scalable and interoperable digital financial infrastructure.
