Ripple Partners with Riyad Bank to Explore Blockchain Applications
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 2d ago- Blockchain Collaboration: Ripple has signed a memorandum of understanding with Riyad Bank's innovation subsidiary Jeel to explore blockchain applications within Saudi Arabia's financial infrastructure, aiming to establish a world-leading fintech ecosystem.
- Fintech Application Development: The partnership plans to develop several fintech applications, including cross-border payments and digital asset custody, leveraging blockchain's speed and transparency to enhance settlement efficiency for Gulf region financial institutions.
- Cloud Computing Economic Zone: Saudi Arabia is set to launch a cloud computing special economic zone in April 2026, offering tax and regulatory incentives to accelerate cloud adoption and foster local digital infrastructure growth.
- Debt Market Outlook: Fitch Ratings projects that Saudi Arabia's debt capital market could reach $600 billion by the end of 2026, indicating ongoing growth in financial innovation and investment attractiveness in the Kingdom.
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.
