Ripple has partnered with Jeel, the innovation subsidiary of Riyad Bank, to explore blockchain-powered cross-border payments and digital asset solutions in Saudi Arabia.
Key Takeaways
- Ripple signed an MoU with Jeel, Riyad Bank’s tech and innovation arm, to pilot RLUSD and blockchain infrastructure for Saudi Arabia’s financial sector.
- The partnership supports Saudi Arabia’s Vision 2030 by developing a competitive, tech-driven financial ecosystem.
- Ripple and Jeel will explore blockchain use cases for cross-border payments, digital asset custody, and tokenization in Jeel’s regulatory sandbox.
- This collaboration offers Ripple strategic access to Saudi Arabia’s fintech landscape, following its regulatory approvals in Dubai and Abu Dhabi.
What Happened?
Ripple has expanded its footprint in the Middle East by teaming up with Jeel, the digital innovation division of Riyad Bank, one of Saudi Arabia’s largest financial institutions. This new partnership is focused on testing Ripple’s enterprise blockchain technology and its RLUSD stablecoin in Saudi Arabia’s growing fintech environment.
The move aligns with Saudi Arabia’s Vision 2030, a national roadmap aimed at transforming the Kingdom into a global hub for digital innovation and financial technology.
More big news from the Middle East! @Ripple is partnering with @Jeelmovement, the innovation arm of @RiyadBank, to advance Saudi Arabia’s financial future through blockchain innovation 🇸🇦
— Reece Merrick (@reece_merrick) January 26, 2026
The Kingdom’s visionary leadership has established Saudi Arabia as a forward-thinking… pic.twitter.com/KhQ7giluhE
Ripple and Jeel Partner to Advance Blockchain Innovation
Ripple and Jeel have entered into a memorandum of understanding to examine how blockchain can be integrated into Saudi Arabia’s financial infrastructure. The primary focus will be on cross-border payments, but the collaboration will also explore digital asset custody and tokenization.
This initiative is still in its early stages, with implementation details yet to be finalized. However, the companies will test Ripple’s technology within Jeel’s regulatory sandbox, allowing for compliant experimentation in a secure, controlled environment.
Jeel CEO George Harrak emphasized the importance of responsible innovation, saying:
Ripple Gains Strategic Access to the Saudi Market
For Ripple, the collaboration provides a valuable entry point into Saudi Arabia’s fast-growing fintech sector. Through Jeel’s institutional reach and innovation ecosystem, Ripple will be able to demonstrate how its blockchain-based payment systems and RLUSD stablecoin can enhance speed, reduce costs, and improve transparency in cross-border financial services.
Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, noted:
He added that the partnership would allow Ripple to showcase its enterprise blockchain solutions within a market that is both innovation-driven and highly regulated.
Supporting Vision 2030 and Riyad Bank’s Digital Ambitions
Riyad Bank, which manages $130 billion in assets, launched Jeel in 2023 to lead its push for digital innovation. Through this partnership, Ripple’s technology will be embedded into Jeel’s broader technology blueprint, supporting the bank’s goal of evaluating next-generation financial infrastructure.
The deal follows Ripple’s recent regulatory approvals in Dubai and Abu Dhabi, and it marks another strategic milestone as the company aims to integrate its digital payment stack across the Gulf region.
CoinLaw’s Takeaway
In my experience, partnerships like this mark a real turning point. Ripple is not just pitching blockchain; it is embedding itself within the financial fabric of Saudi Arabia. By entering Jeel’s sandbox, Ripple gains the rare opportunity to test, iterate, and prove its enterprise tech in one of the world’s most ambitious fintech environments. I found the alignment with Vision 2030 particularly smart. It shows Ripple understands local goals and is building for long-term adoption, not just quick wins. If these pilots succeed, RLUSD could become a major player in regional remittances and beyond.
