Riyad Bank’s innovation arm Jeel has partnered with Ripple to test blockchain-based cross-border payments and digital asset services in Saudi Arabia through a regulatory sandbox aligned with Vision 2030 goals.
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Jeel and Ripple Begin Joint Testing of Blockchain Financial Services
Jeel, the innovation arm of Riyad Bank, has entered into a partnership with blockchain company Ripple to test new financial services built on distributed ledger technology. The collaboration will focus on cross-border payments and future digital asset use cases within Saudi Arabia.
Under the agreement, both sides will run technology trials inside Jeel’s regulatory sandbox. The controlled environment allows financial institutions and technology providers to test new systems under regulatory oversight before broader market deployment.
The partnership comes as Saudi Arabia continues to expand digital infrastructure across banking and payments. Officials and financial institutions have linked these efforts to the country’s Vision 2030 program, which aims to modernize economic systems and increase private-sector participation in technology-driven services.
Jeel and Ripple plan to evaluate whether blockchain-based tools can support faster international transactions, stronger transparency, and operational reliability while meeting regulatory requirements.
Cross-Border Payments at the Center of the Project
The initial focus of the partnership centers on international remittances and payment corridors. Cross-border transfers remain a core challenge for banks and corporate clients due to settlement delays, intermediary costs, and limited transaction visibility.
Jeel and Ripple will examine blockchain-enabled corridors designed to reduce friction in international payments. The testing phase will assess how Ripple’s infrastructure performs when handling real transaction flows inside a sandbox setting.
Saudi Arabia plays a significant role in global remittance activity, both as a destination for expatriate workers and as a regional financial hub. Improving the speed and efficiency of outbound and inbound transfers remains a priority for banks serving corporate and retail clients.
The partnership aims to determine whether blockchain tools can support these goals while fitting into the country’s regulatory framework.
Sandbox Testing Emphasizes Compliance and Performance
Jeel operates its sandbox as a testing platform that balances innovation with regulatory discipline. The Ripple collaboration will run through this framework, allowing both companies to examine performance benchmarks and compliance standards at the same time.
Testing will include technical performance, transaction processing capacity, system stability, and data security controls. Regulatory alignment remains a central requirement throughout the process.
Executives at Jeel have said the sandbox model allows controlled experimentation with emerging financial infrastructure. The approach reflects a broader trend across the region, where regulators increasingly support structured testing environments for new payment systems and digital services.
For Ripple, participation in the sandbox offers access to a regulated testing environment tied directly to a major Saudi bank.
Digital Asset Infrastructure Under Review
Beyond payments, the partnership will also examine digital asset custody and tokenization frameworks. These areas have gained attention across financial markets as institutions look for secure ways to manage blockchain-based assets.
Jeel and Ripple plan to test systems that support asset storage, transaction authorization, and operational controls. The goal involves identifying methods that meet security standards while remaining scalable for institutional use.
Tokenization, which converts traditional assets into blockchain-based representations, also forms part of the evaluation. Financial institutions view tokenization as a potential tool for improving settlement efficiency and asset management processes.
Any deployment in this area will depend on regulatory approval and performance results from the sandbox phase.
Ripple Expands Presence in Saudi Financial Infrastructure
The partnership provides Ripple with direct access to Saudi Arabia’s regulated financial innovation network. Through Jeel’s institutional channels, Ripple will test its enterprise blockchain platforms within the national financial environment.
Ripple’s regional leadership has described Saudi Arabia as an important market for digital transformation. The company views sandbox participation as an opportunity to demonstrate how its technology operates under regulatory oversight rather than in isolated pilot projects.
The collaboration also allows Ripple to assess local infrastructure requirements, regulatory expectations, and operational workflows unique to the Saudi banking system.
For Saudi institutions, working with an established blockchain provider offers exposure to enterprise-grade platforms already used in other regions.
Alignment With Vision 2030 Financial Modernization Goals
Saudi Arabia’s Vision 2030 strategy places digital finance at the center of economic reform. The program encourages banks and technology firms to develop payment systems that support trade, investment, and financial inclusion.
Jeel’s partnership with Ripple reflects that direction. By testing blockchain infrastructure within a regulated environment, the project fits into broader national efforts to strengthen digital financial services.
Authorities have emphasized the importance of maintaining financial stability while introducing new technologies. Sandbox programs provide a mechanism to meet both objectives.
The Ripple collaboration adds an international technology partner to this framework, connecting local banking innovation with global blockchain expertise.
Riyad Bank’s Broader Digital Strategy
Jeel operates as Riyad Bank’s innovation arm, responsible for exploring emerging technologies and testing new financial products. The Ripple partnership builds on the bank’s broader digital strategy, which includes upgrading payment infrastructure and expanding digital banking services.
Riyad Bank remains one of Saudi Arabia’s largest financial institutions, serving corporate, retail, and government clients. Its innovation unit plays a role in evaluating technologies before large-scale deployment across the bank’s operations.
Blockchain experimentation fits into this approach. Rather than adopting systems directly into production, the bank uses sandbox testing to assess risk, reliability, and regulatory impact.
This method reflects a cautious but structured approach to financial innovation.
Regional Context: Blockchain Adoption in the Gulf
Across the Gulf region, banks and regulators have increased interest in blockchain technology for payments, trade finance, and digital asset services. Several countries have launched regulatory sandboxes and pilot programs tied to digital currencies and settlement systems.
Saudi Arabia’s financial authorities have taken steps to support controlled experimentation while maintaining oversight. The Jeel-Ripple partnership follows this pattern by combining international technology with domestic regulatory supervision.
The Middle East also plays a growing role in cross-border trade between Asia, Europe, and Africa. Payment infrastructure improvements remain tied to broader economic integration efforts.
Blockchain-based systems have attracted attention as tools that can reduce settlement time and operational complexity across borders.
Fintech Collaboration Gains Momentum
The partnership highlights the growing role of fintech collaboration between banks and technology firms. Traditional financial institutions increasingly work with specialized providers rather than building all infrastructure internally.
Ripple brings blockchain expertise, while Jeel provides regulatory access and institutional integration. This model reflects how banks adopt new technology while maintaining control over compliance and risk management.
The arrangement also supports Riyad Bank’s efforts to position itself as an active participant in digital finance development across Saudi Arabia.
Industry observers note that such partnerships often determine whether experimental technology transitions into mainstream banking operations.
Regulatory Oversight Remains a Key Factor
Any expansion beyond sandbox testing will depend on regulatory approval and performance results. Saudi regulators continue to evaluate how blockchain systems fit within existing financial laws and consumer protection frameworks.
Issues such as data privacy, transaction monitoring, and asset custody controls remain central to these assessments.
The sandbox environment allows regulators to observe real-world performance without exposing the broader financial system to untested risk.
This oversight process plays a central role in shaping how digital finance evolves across the Kingdom.
What Comes Next for the Partnership
Jeel and Ripple have not released a timeline for completing sandbox testing or moving into production deployments. The next phase will involve performance evaluation, compliance review, and operational assessment.
If results meet regulatory and institutional standards, the partnership could expand into live payment corridors or digital asset services offered through Riyad Bank’s platforms.
Any such rollout would occur in stages and under continued regulatory supervision.
For now, the focus remains on testing, validation, and system evaluation.
A Measured Step Into Blockchain Banking
The Jeel-Ripple partnership represents a structured approach to blockchain adoption in Saudi Arabia’s financial sector. Rather than rapid deployment, the project emphasizes testing, compliance, and operational readiness.
Cross-border payments, digital asset custody, and tokenization remain complex areas that require both technical capability and regulatory coordination.
By using a sandbox model, Riyad Bank’s innovation arm and Ripple aim to determine whether blockchain tools can meet institutional standards inside one of the region’s largest banking markets.
The outcome of these tests will influence how quickly blockchain-based services move from controlled trials into everyday banking operations across Saudi Arabia.
