Ripple Partners with Riyad Bank to Drive Blockchain Innovation in Saudi Arabia
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 1h ago- Strategic Partnership: Ripple has partnered with Jeel, the innovation arm of Riyad Bank, to explore blockchain solutions aligned with Saudi Arabia's Vision 2030, reflecting Ripple's ambition and long-term vision in the Middle East market.
- Cross-Border Payment Innovation: By leveraging blockchain technology, Ripple can significantly reduce settlement times, enhance transparency, and improve liquidity efficiency, providing Saudi institutions with faster and more cost-effective international transaction capabilities, thereby strengthening their connectivity to global financial markets.
- Digital Asset Custody: Ripple and Jeel are focusing on the secure management of digital assets, utilizing Ripple's infrastructure to help Riyad Bank safely store and manage tokenized assets, laying the groundwork for broader adoption and institutional confidence.
- Tokenization as a Growth Catalyst: By converting traditional assets into digital tokens, Ripple and Jeel aim to increase efficiency, accessibility, and liquidity in financial markets, closely aligning with Saudi Arabia's goals of economic diversification and financial innovation.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
