Ripple has signed a partnership with Jeel, the innovation and technology arm of Riyad Bank, to explore blockchain applications across cross-border payments, digital asset custody, and tokenization in Saudi Arabia. The collaboration positions Ripple inside a regulated testing environment as the Kingdom accelerates its Vision 2030 digital transformation agenda.
Ripple Expands In Saudi With Riyad BankJeel CEO George Harrak positioned the sandbox as the core mechanism for turning blockchain concepts into regulated experimentation. “This partnership with Ripple reflects our strategy of using the Jeel Sandbox to responsibly explore next-generation financial infrastructure,” Harrak said. “By combining regulated experimentation with global blockchain expertise, we are building the foundations to evaluate scalable use cases that enhance cross-border payments and digital asset capabilities in line with the Kingdom’s long-term digital ambitions.”
Ripple’s Managing Director for the Middle East and Africa, Reece Merrick, described the work as an effort to integrate enterprise blockchain into Saudi financial architecture, explicitly tying it to the Vision 2030 roadmap.
For Jeel, the partnership is pitched as a step beyond conventional fintech acceleration into “regulated blockchain experimentation,” extending its innovation mandate while supporting Riyad Bank’s ambitions to evaluate next-generation digital financial services. For Ripple, Jeel’s sandbox and institutional network offer a pathway into the Kingdom’s fast-growing fintech landscape, with the press release noting that the arrangement creates a venue to showcase Ripple’s infrastructure in a “highly regulated and innovation-driven environment.”
At press time, XRP traded at $1.90.
