Ripple partners with Riyad Bank unit on blockchain payments and custody

Ripple has partnered with Jeel, the innovation arm of Saudi Arabia’s Riyad Bank, to explore blockchain use across payments, custody and tokenisation.

The agreement takes the form of a memorandum of understanding focused on cross-border payments, digital asset custody and asset tokenisation.

“We are working with Jeel to study practical blockchain applications that can support modern financial infrastructure,”

Reece Merrick said.

The collaboration is intended to align with Saudi Arabia’s Vision 2030 strategy to modernise the economy and financial system.

Riyad Bank is among the country’s largest lenders, with more than $130 billion in assets as of mid-2025.

The partnership highlights growing institutional interest in blockchain infrastructure across the Middle East.

The United Arab Emirates continues to lead the region with clearer digital asset regulations and active institutional adoption.

Ripple has expanded its regional presence as tokenisation activity accelerates on public blockchains.

The XRP Ledger has surpassed $1 billion in on-chain tokenised assets, reflecting rising institutional usage.

At the time of reporting, XRP price was $1.90.