PANews reported on January 27th that, according to Cointelegraph, Ripple has partnered with Jeel, the innovation arm of Saudi Arabia's major financial institutionPANews reported on January 27th that, according to Cointelegraph, Ripple has partnered with Jeel, the innovation arm of Saudi Arabia's major financial institution
Ripple partners with a division of Saudi bank Riyad Bank to develop blockchain payment and custody services.
PANews reported on January 27th that, according to Cointelegraph, Ripple has partnered with Jeel, the innovation arm of Saudi Arabia's major financial institution, Riyad Bank. The two companies will sign a memorandum of understanding to jointly explore the application of blockchain technology in the country's financial system. The collaboration will focus on cross-border payments, digital asset custody, and asset tokenization, aiming to support Saudi Arabia's "Vision 2030" economic transformation strategy.
Riyad Bank is one of Saudi Arabia's largest banks, with assets exceeding $130 billion by mid-2025. This collaboration is seen as a significant signal that Saudi Arabia's financial system is moving towards blockchain infrastructure.
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