Exploring Blockchain Innovations: Ripple Partners with Jeel in Saudi Arabia
Introduction: A New Chapter in Blockchain Collaboration
Ripple has embarked on a significant partnership with Jeel, the innovation and technology division of Riyad Bank, aiming to revolutionize the blockchain landscape in Saudi Arabia. This collaboration seeks to explore groundbreaking applications in areas such as cross-border payments, digital asset custody, and asset tokenization, aligning with the Kingdom’s ambitious Vision 2030 digital transformation agenda.
Strengthening Ripple’s Presence in Saudi Arabia
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Jeel recently announced this strategic alliance on social media: “We are thrilled to partner with Ripple to delve into innovative applications that will enhance payment speed and efficiency. Our focus is on studying digital asset custody use cases and developing prototypes within Jeel’s regulatory sandbox to support Vision 2030’s objectives.”
A detailed press release dated January 26, 2026, elaborates on the collaboration, emphasizing the potential of blockchain technology to improve the speed, cost-efficiency, and transparency of cross-border transactions. The initiative also explores digital asset custody and tokenization prospects, with plans to create proofs-of-concept within Jeel’s sandbox. This controlled, compliant environment aims to test Ripple’s technologies while emphasizing scalable and interoperable infrastructure for financial services across Saudi Arabia.
Jeel’s Vision: A Controlled Environment for Blockchain Innovation
Jeel CEO, George Harrak, highlighted the significance of the regulatory sandbox in transforming blockchain concepts into practical, regulated experiments. “Our partnership with Ripple aligns with our strategy to responsibly explore next-generation financial infrastructure through the Jeel Sandbox,” Harrak stated. “By merging regulated experimentation with global blockchain expertise, we are laying the groundwork for scalable use cases that enhance cross-border payments and digital asset capabilities, in line with the Kingdom’s long-term digital ambitions.”
Ripple’s Commitment to Saudi Arabia’s Vision 2030
Ripple’s Managing Director for the Middle East and Africa, Reece Merrick, expressed the company’s dedication to integrating enterprise blockchain into Saudi Arabia’s financial framework, directly supporting the Vision 2030 roadmap. “Saudi Arabia’s leadership has positioned the Kingdom as a global hub for digital transformation. Within this progressive context, Ripple has signed an MOU with Jeel to integrate secure and efficient blockchain solutions into the national financial architecture,” Merrick stated. “We are committed to demonstrating how Ripple’s enterprise-grade digital assets technology can unlock significant efficiencies, particularly in cross-border payments, which aligns with Saudi Arabia’s goal of building a world-leading, competitive fintech ecosystem.”
Merrick further emphasized this commitment in a subsequent statement, highlighting the exploration of use cases such as cross-border payments, digital asset custody, and tokenization. He expressed excitement about contributing to the future development of Saudi Arabia’s financial infrastructure.
Beyond Conventional Fintech: A Step Towards Regulated Blockchain Experimentation
For Jeel, this partnership signifies a move beyond traditional fintech acceleration, venturing into “regulated blockchain experimentation.” This collaboration extends its innovation mandate while supporting Riyad Bank’s aspirations to evaluate next-generation digital financial services. Meanwhile, for Ripple, Jeel’s sandbox and institutional network open a pathway to engage with Saudi Arabia’s rapidly evolving fintech landscape. The press release notes that this partnership provides a platform to showcase Ripple’s infrastructure in a “highly regulated and innovation-driven environment.”
Market Insight
At the time of writing, XRP is trading at $1.90, indicating ongoing market interest in Ripple’s developments.
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