qerranews 
Ripple has partnered with Jeel, the innovation arm of Saudi Arabia’s Riyad Bank, to explore the use of blockchain technology in the country’s financial system. The collaboration highlights rising institutional interest in blockchain-based payments, digital asset custody, and tokenization across global financial markets.
The partnership was announced by Reece Merrick, Ripple’s senior executive officer and managing director for the Middle East and Africa. According to Merrick, Ripple will work with Jeel under a memorandum of understanding (MoU) to evaluate blockchain applications tailored for Saudi Arabia’s financial sector.
This move signals a growing shift among traditional banks toward blockchain infrastructure, especially in regions seeking financial modernization and diversification.
Focus On Payments And Custody
The agreement between Ripple and Riyad Bank’s innovation unit will focus on three major areas: cross-border payments, digital asset custody, and asset tokenization. These initiatives are aligned with Saudi Arabia’s Vision 2030 strategy, which aims to modernize the economy and reduce reliance on oil revenues.
Cross-border payments remain one of blockchain’s strongest institutional use cases. Ripple’s technology has long been marketed as a faster and more cost-efficient alternative to legacy systems such as SWIFT. By collaborating with Ripple, Riyad Bank may explore real-time settlement solutions and enhanced liquidity management for international transactions.
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
Digital asset custody is another key pillar of the partnership. As institutions increasingly adopt cryptocurrencies and tokenized assets, secure custody solutions have become a top priority. Ripple’s custody infrastructure could help banks safely store and manage digital assets while meeting regulatory requirements.
Tokenization, which involves converting real-world assets into blockchain-based tokens, is also a major focus. This could include tokenized securities, funds, or commodities, enabling faster settlement and improved market access.
Riyad Bank’s Strategic Importance
Riyad Bank is one of Saudi Arabia’s largest financial institutions, with more than $130 billion in assets as of mid-2025. Its size and influence within the domestic financial system make the partnership particularly significant.
If a major bank like Riyad Bank adopts blockchain infrastructure, it could encourage broader adoption across Saudi Arabia’s banking sector. This could accelerate the country’s transition toward digital financial services and fintech innovation.
The partnership also reflects a broader trend of traditional banks partnering with blockchain companies rather than competing with them. By leveraging Ripple’s expertise, Riyad Bank can experiment with blockchain use cases while mitigating technological and regulatory risks.
Middle East Emerging Crypto Hub
The Middle East is rapidly becoming a global hub for digital asset innovation, with the United Arab Emirates leading the charge. Dubai and Abu Dhabi have introduced dedicated regulatory frameworks for exchanges, custody providers, and stablecoin issuers, providing clarity for global companies entering the region.
This regulatory clarity has attracted major crypto firms, institutional investors, and fintech startups. Ripple has already expanded its footprint in the UAE, securing regulatory approval for its RLUSD stablecoin designed for institutional use cases.
Saudi Arabia has historically taken a cautious approach to blockchain and cryptocurrency regulation. However, partnerships like this one suggest a growing willingness to explore blockchain infrastructure within a controlled and regulated environment.
As regional competition intensifies, Saudi Arabia may accelerate its blockchain adoption to remain competitive with neighboring fintech hubs.
Tokenization And XRP Ledger Growth
Tokenization activity on public blockchains is increasing worldwide, driven by institutional interest in digitizing traditional financial assets. The XRP Ledger recently surpassed $1 billion in onchain tokenized assets, highlighting the growing adoption of blockchain-based financial products.
Tokenized U.S. Treasury products, funds, and other real-world assets are increasingly being issued on blockchain networks. This trend is expected to expand as regulatory frameworks mature and institutions gain confidence in blockchain infrastructure.
Ripple’s RLUSD stablecoin has also contributed to this growth. Designed for institutional payments and settlements, RLUSD is gaining traction on major trading platforms and within enterprise financial workflows.
By partnering with Riyad Bank’s innovation unit, Ripple may position the XRP Ledger as a key platform for tokenization initiatives in Saudi Arabia and the broader Middle East.
Supporting Saudi Vision 2030 Goals
Saudi Arabia’s Vision 2030 strategy focuses on diversifying the economy, promoting fintech innovation, and building a digital financial ecosystem. Blockchain technology aligns closely with these objectives by enabling faster payments, improved transparency, and new financial products.
The Ripple partnership could help Saudi Arabia modernize its banking infrastructure and attract foreign investment into its fintech sector. Tokenization could also unlock new capital markets opportunities, enabling fractional ownership and global access to Saudi assets.
Furthermore, blockchain-based financial services could enhance financial inclusion by providing faster and more affordable cross-border transactions for businesses and individuals.
Implications For Global Crypto Adoption
Ripple’s collaboration with a major Saudi bank underscores the growing acceptance of blockchain technology among traditional financial institutions. As more banks explore blockchain-based payments and custody solutions, crypto infrastructure is moving closer to mainstream financial markets.
Institutional adoption is a key driver for the next phase of crypto growth. Partnerships between blockchain firms and global banks could accelerate regulatory clarity, technological development, and investor confidence.
The Ripple–Riyad Bank partnership may also influence other banks in the Middle East and beyond to explore similar initiatives. As blockchain technology becomes embedded in traditional finance, the line between crypto and conventional banking continues to blur.
Conclusion
Ripple’s partnership with Riyad Bank’s innovation unit marks a significant milestone for blockchain adoption in Saudi Arabia. By exploring cross-border payments, digital asset custody, and tokenization, the collaboration aligns with Saudi Vision 2030 and highlights growing institutional interest in blockchain infrastructure.
With the Middle East emerging as a global hub for digital assets, Ripple’s expanding presence in the region could position the company as a key player in institutional crypto adoption. As tokenization and stablecoins gain momentum, partnerships like this one may shape the future of global financial markets.