Ripple has announced a strategic partnership with Riyad Bank , through Jeel, the bank's innovation and fintech unit, to develop blockchain solutions for the financial infrastructure in Saudi Arabia.
Under the agreement, Ripple and Jeel will jointly research, test, and deploy key applications such as cross-border payments, digital asset custody, and asset Tokenize . The goal is to support domestic financial institutions in accessing blockchain technology securely, compliantly, and scalably at the enterprise level.
The project will be implemented through Jeel Sandbox – a fintech testing platform built by Jeel, in collaboration with FinTech Saudi, Mambu, and Google Cloud. This sandbox allows fintech companies and banks to test products in a controlled environment, shortening time to commercialization and reducing risks during real-world deployment.
This collaborative initiative is part of the Saudi Vision 2030 roadmap, a national strategy aimed at diversifying the economy and fostering innovation in the financial and technology sectors. Notably, Saudi Arabia recently announced the establishment of a special economic zone for cloud computing, further developing the infrastructure for digital financial services and blockchain technology.
