* Ripple has signed a partnership with Jeel, a subsidiary of Riyad Bank, to explore blockchain applications that strengthen financial services across Saudi Arabia.
* The collaboration focuses on tokenization, crypto custody, and digital infrastructure designed to support remittances and trade corridors across the Gulf.
* The announcement adds to Ripple’s recent momentum after receiving preliminary approval for an EMI license in Luxembourg, reinforcing its strategy of working with regulated institutions.
Ripple secures riyad bank deal to boost middle east expansion as the San Francisco-based blockchain payments firm deepens its footprint across the Gulf. The agreement centers on Jeel, a Riyad Bank subsidiary, and aims to explore blockchain use cases that can modernize parts of Saudi Arabia’s financial infrastructure while maintaining a strong compliance focus.
Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, shared the update on X and linked the move to Saudi Arabia’s broader digital transformation goals. While neither company disclosed financial terms, the partnership signals that major regional banks are increasingly open to testing tokenized systems with established crypto-native providers.
Jeel And Ripple Target Tokenization And Custody
Ripple and Jeel plan to evaluate tokenization frameworks and institutional-grade custody tools that can support regulated digital asset activity. Tokenization is becoming a key topic for banks seeking to represent real-world assets on-chain, including trade-related instruments and settlement workflows.
Saudi Arabia plays a central role in regional remittance flows and global trade routes, and blockchain-based settlement is now being explored as a way to reduce friction, improve transparency, and speed up processing times. Across the wider Middle East, regulatory progress in hubs such as the UAE has also helped create a clearer environment for institutional adoption.
Ripple Builds Middle East Expansion With Regulated Momentum
The Jeel deal comes as Ripple adds traction in other markets. Ripple recently expanded its stablecoin push as RLUSD gained visibility following a listing on Binance, giving the asset broader exchange access and liquidity. RLUSD currently runs on Ethereum, while XRPL support has been positioned as part of the next rollout.
Ripple has also extended its collaboration with Garanti BBVA in Türkiye, where the bank continues using Ripple’s custody technology to secure major crypto assets such as BTC and ETH. In parallel, Ripple received preliminary approval for an Electronic Money Institution license in Luxembourg, supporting its longer-term European roadmap.
Taken together, the Jeel partnership reflects a wider trend: institutions are moving from crypto awareness to targeted deployment, and Ripple is positioning itself as a bridge between traditional finance and blockchain-based settlement.
