- Ripple and Jeel collaborate on blockchain payments innovation.
- Partnership aims to enhance Saudi digital payment systems.
- Aligns with Saudi Arabia’s Vision 2030 initiatives.
Ripple has partnered with Jeel, the innovation division of Riyad Bank, to develop blockchain applications in Saudi Arabia’s regulatory sandbox, as announced by Ripple’s executive on January 27, 2026.
This collaboration aims to enhance cross-border payments and digital asset capabilities, aligning with Saudi Arabia’s Vision 2030, though no immediate market reactions or funding details have been disclosed.
Ripple has entered a partnership with Jeel, the innovation arm of Riyad Bank. This collaboration marks a significant stride in fintech, aiming to boost blockchain payment systems.
The partnership involves an MoU for testing under regulatory oversight. Reece Merrick of Ripple announced the venture, highlighting its strategic importance for expanding digital payment capabilities. Read more about fintech trends and innovations
The partnership enhances Saudi Arabia’s financial landscape. George Harrak, CEO of Jeel, stated it supports economic diversity by combining global blockchain expertise with local regulatory frameworks.
The initiative aligns with Saudi Vision 2030, focusing on tech-driven growth. As no specific funding details are disclosed, broader financial implications remain speculative at this stage.
No immediate changes in blockchain assets like ETH or BTC have been observed. The focus remains solely on Ripple’s infrastructure development.
The partnership may set a precedent for future regulatory tech testing within Saudi Arabia. It emphasizes compliance and strategic digital transformation efforts as per national goals. Learn about the latest fintech news and industry analysis
“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.” – George Harrak, CEO of Jeel
