Ripple in Saudi Arabia

Ripple has partnered with Jeel Movement to expand the use of blockchain technology in Saudi Arabia. The collaboration aims to build practical solutions for the financial sector, with real-world applications in banking and international payments.

The joint initiative will focus primarily on cross-border payments, secure custody of digital assets, and the tokenization of real-world assets. The project aligns with Saudi Vision 2030, which seeks to modernize the economy and accelerate the growth of the digital and fintech sectors.

Jeel Movement serves as the technology and innovation hub of Riyad Bank. As part of the partnership, teams from Jeel and Ripple will test and deploy blockchain-based solutions tailored to Saudi financial services. Key areas of analysis include speeding up international payments, reducing transaction costs, and strengthening the security of financial infrastructure.

Ripple highlights that Saudi Arabia has been steadily building a modern technological and regulatory environment that supports digital transformation. Rather than experimental pilots, the partnership will focus on systems ready for everyday banking operations and capable of supporting the national economy.

Founded in 2023, Jeel Movement works with technology companies and fintech startups to modernize banking services. Through its partnership with Ripple, the initiative now adds blockchain-based solutions covering payments, asset custody, and tokenization. Jeel also acts as a bridge between banks, startups, and regulators, ensuring compliance with local regulations.

For Ripple, this marks another step in expanding its presence in the Middle East. The company has previously collaborated with banks and payment institutions across the region. The new agreement strengthens Ripple’s position in one of the region’s largest financial markets and underscores the growing role of blockchain technology in institutional finance.