Ripple Expands in Saudi Arabia with Riyad Bank Innovation Arm

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Ripple has entered a partnership with Jeel Movement, the digital innovation arm of Riyad Bank, to support the use of blockchain technology in Saudi Arabia’s financial system. The collaboration will explore cross-border payments, digital asset custody, and tokenization. Announced by Ripple’s Reece Merrick, the deal aligns with Saudi Arabia’s Vision 2030 strategy to modernize finance and grow fintech adoption. Riyad Bank, managing $130 billion in assets, launched Jeel in 2023 to accelerate digital innovation.