Quick Breakdown
- Jeel and Ripple will explore blockchain applications for payments, custody, and tokenization in Saudi Arabia.
- Regulatory sandbox testing will enable compliant experimentation with Ripple’s blockchain solutions.
- The partnership supports Saudi Arabia’s push to modernize its financial infrastructure and fintech ecosystem.
Jeel, an innovation-focused subsidiary of Riyad Bank, has entered into a strategic partnership with blockchain firm Ripple to explore advanced blockchain applications aimed at enhancing financial services across Saudi Arabia and the wider Middle East.
نعلن في جيل عن شراكتنا مع شركة ريبل لاستكشاف تطبيقات متقدمة تهدف إلى تحسين سرعة وكفاءة المدفوعات.
وتركز هذه الشراكة على دراسة حالات استخدام حفظ الأصول الرقمية، إلى جانب تطوير نماذج أولية ضمن البيئة التنظيمية التجريبية لجيل، دعمًا لمستهدفات #رؤية_السعودية_2030 pic.twitter.com/WzUZrBQPYV— Jeel (@Jeelmovement) January 26, 2026
Announced in a press release, the collaboration reflects rising institutional interest in blockchain-powered payment systems and digital asset infrastructure as the Kingdom positions itself as a regional leader in financial innovation.
The agreement will center on building a secure, transparent digital infrastructure capable of supporting modern financial markets, aligning with Saudi Arabia’s long-term digital transformation goals.
Payments, custody and tokenization take center stage
As part of the partnership, Jeel and Ripple will evaluate how blockchain technology can improve the speed, cost efficiency, and transparency of cross-border payments, an area of growing importance for the Gulf’s remittance and trade corridors.
Beyond payments, the firms will also explore blockchain-based digital asset custody solutions and tokenization models. These use cases are increasingly viewed as core components of next-generation financial systems, enabling the secure storage of digital assets and the on-chain representation of real-world assets.
Garanti BBVA Kripto also renewed its custody pact with Ripple to safeguard BTC, ETH, XRP using Metaco tech and IBM LinuxONE security.
Regulatory sandbox to enable controlled testing
The collaboration will also see Ripple’s blockchain solutions tested within Jeel’s regulatory sandbox, allowing both firms to develop proofs-of-concept in a controlled, compliant environment.
According to Jeel, the sandbox will be used to assess blockchain-enabled payment corridors, custody frameworks, and interoperability across financial systems, helping demonstrate scalable solutions that could support the modernization of Saudi Arabia’s banking ecosystem.
“This partnership with Ripple reflects our strategy of responsibly exploring next-generation financial infrastructure through the Jeel Sandbox,”
said George Harrak, CEO of Jeel.
“By combining 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 ambitions.”
Ripple also sees the partnership as a strategic entry point into Saudi Arabia’s rapidly expanding fintech sector.
“Saudi Arabia’s visionary leadership has positioned the Kingdom as a global hub for digital transformation,”
said Reece Merrick, Managing Director for the Middle East and Africa at Ripple.
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