Jeel and Ripple Partner to Explore Cross-Border Blockchain Use in Saudi Finance

Highlights:

• Jeel and Ripple partner to test regulated blockchain tools inside Saudi banking infrastructure.
• The collaboration focuses on cross-border payments, custody frameworks, and tokenization use cases.
• All blockchain testing will run inside Jeel’s regulatory sandbox under Saudi oversight.

Jeel, Riyad Bank’s innovation arm, has partnered with Ripple to explore blockchain use across Saudi financial services. The agreement is centered on the testing of enterprise blockchain tools in regulated settings. Jeel is a subsidiary of Riyad Bank, which is among the largest lenders in the Kingdom. This structure places the collaboration directly inside the banking system.

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🔥 NEW: Ripple is partnering with the Jeel Movement, the innovation arm of $130B Riyad Bank, to explore blockchain use cases.

What does this hold for $XRP? pic.twitter.com/ybr5TODFz3

— DeFi Planet (@PlanetDefi) January 26, 2026

The partnership focuses on practical financial infrastructure and not experimental pilots. Jeel will test the performance of blockchain systems compared to the prevailing banking rails. The focus of the work is on security, transparency, and operational reliability. Saudi regulators have encouraged banks to test new technologies in a controlled environment. Jeel runs these tests on its sandbox under regulatory supervision. The model enables institutions to test infrastructure without putting customers at risk.

Institutional blockchain adoption has increased across the region. Banks now focus on systems that support auditability and settlement clarity. Jeel intends to evaluate whether blockchain meets these operational needs. The firm will also review integration challenges inside core banking processes. These reviews form part of the collaboration’s scope. Jeel places itself in an intermediary role between banks, regulators, and technology providers. This position enables testing of technology to be in line with compliance requirements.

Jeel and Ripple Partner to Evaluate Cross-Border Payments and Tokenization

Cross-border payments sit at the center of the collaboration. Jeel and Ripple will assess blockchain-based payment corridors used for international transfers. The testing will examine settlement speed, transaction costs, and data transparency. These factors affect trade and remittance activity across the Gulf.

Many cross-border payments rely on layered intermediaries. Blockchain systems may reduce settlement steps between institutions. Jeel and Ripple will test these mechanisms using realistic transaction flows. The focus remains on measured performance.

Digital asset custody represents another evaluation area. Banks need well-defined structures for how to store assets and access control. Consequently, the collaboration will evaluate custody models in accordance with regulatory standards. Testing will review system resilience and operational safeguards. Custody reliability remains essential for institutional use.

Tokenization also falls within the project scope. Tokenization allows financial institutions to represent real-world assets on blockchain networks. Banks increasingly study tokenization for market infrastructure purposes. Jeel will assess how tokenized assets function inside regulated banking environments. Ripple will support this testing with enterprise blockchain tools.

Ripple has also recently done similar controlled engagements outside Saudi Arabia. The Luxembourg financial regulator, the Commission de Surveillance du Secteur Financier, granted the firm a pre-approval of an Electronic Money Institution license. The permission promotes the cross-border payment solutions by Ripple in the European Union.

We’ve secured our preliminary Electronic Money Institution license approval from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF). 🇪🇺

This is a pivotal step toward scaling Ripple Payments across the EU, bringing institutional-grade digital asset infrastructure… pic.twitter.com/GW3c9gVhDs

— Ripple (@Ripple) January 14, 2026

Ripple has also recently introduced institutional crypto custody services in Africa with Absa Bank. The deal was the first custody involvement on the continent by Ripple.

Regulatory Sandbox Testing Sets the Framework for Scalable Deployment

Jeel and Ripple will run proof-of-concept projects inside Jeel’s regulatory sandbox. The sandbox provides a controlled environment for infrastructure testing. Each project will undergo reviews for performance and interoperability. Compliance checks will remain part of every test.

George Harrak, Jeel’s chief executive, said the sandbox supports responsible infrastructure evaluation. He observed that controlled testing enables institutions to evaluate technology without regulatory unpredictability. The strategy balances control and technical innovation. Officials described this balance as essential for financial infrastructure development.

Ripple has also experimented with sandbox models in the Gulf. The company collaborated with Bahrain Fintech Bay to facilitate pilot projects in blockchain finance. The pilots included cross-border payment, tokenization, and stablecoin usage.

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