Ripple has partnered with the innovation division of Riyadh Bank in Saudi Arabia to explore blockchain payment and custody applications.

Ripple announced a partnership with Jeel, the innovation arm of Riyadh Bank, a major Saudi financial institution. The two companies will jointly explore the application scenarios of blockchain technology in the Saudi financial system through a Memorandum of Understanding (MoU). The collaboration focuses on cross-border payments, digital asset custody, and asset tokenization, aiming to support Saudi Arabia's "Vision 2030," modernize its financial infrastructure, and reduce its dependence on the oil economy. Reece Merrick, Managing Director of Ripple Middle East and Africa, stated that this partnership reflects the institutional-grade interest of major Saudi financial institutions in blockchain infrastructure. Riyadh Bank is one of Saudi Arabia's largest banks, with assets exceeding $130 billion as of mid-2025, holding a significant position in the country's financial system. Meanwhile, the Middle East is gradually becoming an important market for digital asset innovation, with the UAE leading the way in regulatory clarity and institutional participation. Ripple continues to expand its presence in the Middle East; its institutional-grade stablecoin, Ripple USD (RLUSD), has received regulatory approval and is listed for trading on some major platforms. (Cointelegraph)