Riyad Bank’s Jeel Teams With Ripple: A Blockchain Payments & Tokenization Leap Forward

Riyad Bank's digital arm Jeel just cut a major deal with Ripple—and it's a direct shot across the bow of traditional finance.

The Partnership Play

This isn't just another pilot. Jeel is embedding Ripple's blockchain tech to rewire how payments move. Think instant settlements across borders, slashing the multi-day delays that legacy systems treat as a feature, not a bug. The real prize? Tokenization. They're building the rails to turn real-world assets into digital tokens, creating liquidity where it barely exists today.

Why It Cuts Through the Noise

Forget vague 'explorations.' This is a concrete implementation by a major bank's digital subsidiary. It signals that institutional adoption is moving from PowerPoint slides to production code. It bypasses the old correspondent banking mess, offering a glimpse of a financial system that's actually fit for the 21st century—something Wall Street has been promising but rarely delivering since the invention of the fax machine.

The Bottom Line

One partnership won't dismantle the old guard overnight, but each one makes the alternative harder to ignore. While traditional finance debates committee structures, blockchain is building the exit ramp. The cynical jab? It's about time banks invested in technology that moves money faster than their excuses.

In a press release shared with CryptoNews, the firm said the partnership will focus on developing secure and transparent digital infrastructure that can support the Middle East.

The agreement is part of growing institutional interest in blockchain payment systems and digital asset technologies as Saudi Arabia continues positioning itself as a regional leader.

Cross-Border Payments, Custody and Tokenization in Focus

The deal will also assess how blockchain technology can improve the speed, cost efficiency and transparency of cross-border payments, a key area of opportunity for the Gulf region’s remittance and trade corridors.

Beyond payments Jeel and Ripple will also explore use cases in digital asset custody and tokenization. These technologies are increasingly viewed as foundational components of next-generation financial markets, allowing the storage of digital assets and the representation of real-world assets on blockchain networks.

Regulatory Sandbox Testing to Support Responsible Innovation

Jeel and Ripple will also jointly develop proofs-of-concept within Jeel’s regulatory sandbox allowing Ripple’s blockchain solutions to be tested in a controlled and compliant environment.

The firm’s will examine how blockchain-enabled payment corridors can improve international remittance experiences while also evaluating custody frameworks.

“This partnership with Ripple reflects our strategy of using the Jeel Sandbox to responsibly explore next-generation financial infrastructure,” said George Harrak CEO of Jeel.

“By combining regulated experimentation with global blockchain expertise, we are building the foundations to evaluate scalable use cases that enhance cross-border payments and digital asset capabilities in line with the Kingdom’s long-term digital ambitions,” adds Harrak.

The sandbox approach is expected to help demonstrate scalable and interoperable digital financial infrastructure that could contribute to the modernization of Saudi Arabia’s banking ecosystem.

Value for Both Jeel and Ripple

For Jeel, the partnership strengthens its position as a pioneer in regulated blockchain experimentation, expanding its innovation capabilities beyond traditional fintech acceleration programs. The collaboration also supports Riyad Bank’s broader ambition to evaluate future-ready digital financial services.

Ripple, meanwhile, gains strategic access to Saudi Arabia’s fast-growing fintech landscape through Jeel’s institutional network and innovation platform.

“Saudi Arabia’s visionary leadership has established the Kingdom as a forward-thinking global hub for digital transformation,” said Reece Merrick, Managing Director for the Middle East and Africa at Ripple. “Ripple has signed an MOU with Jeel to explore integrating secure, efficient blockchain solutions into the national financial architecture.”