Ripple partners with Riyad Bank’s Jeel Movement to advance blockchain innovation, supporting Saudi Arabia’s Vision 2030 digital finance goals.
Ripple has entered a strategic partnership with Jeel Movement, Riyad Bank’s innovation arm, to advance blockchain adoption. The goal of the collaboration is to support Saudi Arabia’s digital transformation agenda and enhance the strength of the Kingdom’s emerging financial infrastructure.
Ripple and Jeel Align on Vision 2030 Blockchain Objectives
Accordingly, the partnership was announced on January 26, 2026 via official channels of the respective companies. It focuses on the exploration of regulated blockchain use cases that are in line with Saudi Arabia’s Vision 2030 objectives.
Moreover, Reece Merrick, Ripple’s Senior Executive Officer for Middle East and Africa, emphasised the forward-looking approach of Saudi Arabia. He pointed out that the leadership of the Kingdom has made it a global center for digital transformation.
Related Reading: Ripple and Ondo Could Unlock Yield for XRP Ledger Institutions | Live Bitcoin News
Therefore, Ripple and Jeel will be looking at cross-border payments, digital asset custody and tokenization use cases together. These areas were identified as being critical for the modernisation of financial services and enhancing operational efficiency.
Meanwhile, cross-border payments will be a major focus for early stages of testing. Blockchain-based settlement systems have the potential to decrease transfer times while providing transparency and cost-efficiency at the same time.
In addition, digital asset custody frameworks will have to be judged against local standards for compliance. Secure storage models are anticipated to enable future institutional digital assets participation.
Furthermore, tokenization initiatives will examine the conversion of traditional assets into blockchain-based assets. This approach could lead to better liquidity and could create the opportunities for fractional ownership within the confines of regulated environments.
Jeel is a subsidiary of Riyad Bank that acts as an incubator for financial technology solutions. Its mandate includes Banking as a Service offerings as well as Open Banking infrastructure development.
Sandbox Approach Positions Saudi Arabia as Regional Fintech Leader
According to Jeel Chief Executive Officer George Harrak, the sandbox allows for responsible experimentation with next generation financial infrastructure. He stressed the need for controlled testing when introducing new technologies.
Additionally, Harrak said combining the global knowledge of blockchain and the local oversight bolsters long-term scalability. This approach helps evaluate solutions that increase payments and capabilities.
As a result, the sandbox environment enables proof-of-concept to be tested without the risk of exposing the system to systemic risks. Successful models could potentially spread to the rest of Saudi Arabia’s banking system later on.
Meanwhile, Ripple’s blockchain infrastructure provides enterprise-level reliability and worldwide interoperability. These features are in line with Saudi Arabia’s ambition to become a fintech and digital payments regional leader.
Furthermore, industry observers are of the opinion this partnership is a sign of greater institutional blockchain adoption across the Middle East. Saudi Arabia banking sector is also continuing to attract global technology providers.
At the same time, Vision 2030 initiatives focus on financial inclusion, innovation and efficiency improvements. Blockchain technology is still a key part of realizing these long-term economic objectives.
However, implementation schedules are still subject to regulatory approvals and sandbox evaluations. Continuing throughout the stages of deployment, authorities focus on stability as well as innovation.
Ultimately, the collaboration demonstrates the Saudi proactive approach to financial modernization. Strategic partnerships are therefore critical to the transfer of global expertise into the domestic frameworks.
Source: https://www.livebitcoinnews.com/ripple-partners-with-riyad-banks-jeel-movement-to-drive-saudi-blockchain-innovation/
