Ripple and Riyad Bank’s Innovation Arm Launch Blockchain Exploration in Saudi Arabia

Ripple announced an agreement with Jeel, the innovation division of a leading Saudi lender, to jointly investigate blockchain applications for the country’s financial architecture. The formal understanding targets practical areas including cross-border payment rails, mechanisms for safeguarding digital holdings, and the conversion of traditional assets into tradable on-chain tokens. This engagement is framed explicitly against Saudi Arabia’s broader strategy to shift economic activity away from hydrocarbons and modernize financial plumbing. For Ripple, the arrangement expands its institutional footprint in a market that has been cautious but is now accelerating blockchain experiments. Saudi participation by a major bank signals a shift from exploratory conversations to structured collaboration with technology providers. The broader Gulf picture matters: the United Arab Emirates has already created clear regulatory pathways and attracted international players, and Saudi initiatives will now be measured against that precedent. If pilot projects move to production, banks could shorten settlement times, cut correspondent banking frictions and open new channels for institutional liquidity. That said, integration will require alignment on rules, custody standards and interoperability across siloed payment systems. Commercialization risks include regulatory delay and the need to demonstrate clear cost or revenue advantages to incumbent infrastructure. For Ripple, success in Saudi Arabia would validate its enterprise propositions and strengthen its position among vendors seeking regulated use cases in the region. For Riyad Bank, the tech collaboration could differentiate product offerings and support public goals for digital transformation. The deal is a practical step in a regional race to anchor tokenization and stablecoin use cases within compliant frameworks. Its ultimate effect will hinge on pilot scope, regulatory reaction and whether market participants adopt the resulting platforms at scale.