San Francisco-based blockchain firm Ripple has continued to strengthen its foothold across the global space, especially the Middle Eastern region, amid efforts to foster blockchain adoption.
On Monday, Jan. 26, the senior executive and managing director for the Middle East and Africa at Ripple, Reece Merrick, announced that Ripple has signed a new partnership deal with a Saudi Arabian fintech firm, Jeel.
More big news from the Middle East! @Ripple is partnering with @Jeelmovement, the innovation arm of @RiyadBank, to advance Saudi Arabia’s financial future through blockchain innovation 🇸🇦
The Kingdom’s visionary leadership has established Saudi Arabia as a forward-thinking… pic.twitter.com/KhQ7giluhE
The partnership will see Ripple and Jeel, the innovation arm of Riyad Bank, work together to boost blockchain adoption within Saudi Arabia’s financial services.
Ripple expands cross-border payment services
While the move aligns with Ripple’s mission to continue expanding its cross-border payment services across multiple nations of the world, it has officially signed the new partnership via a Memorandum of Understanding (MoU).
HOT Stories Morning Crypto Report: New -$18.2 Million XRP Upset Bigger Than You Think, "$1 Million Bitcoin" Advocate Busts Two Biggest Myths With 10x Prediction, Dogecoin (DOGE) Creator Describes Bitcoin Price Crash in Just One WordInstitutional Demand for XRP ETFs CoolsCrypto Market Review: Is XRP in Perfect Spot for $3 Run? Ethereum (ETH) $3,500 Blowup Is Ready, Shiba Inu (SHIB) Needs Rocket Fuel NowPaul Graham Says Gensler's Approach to Crypto Was 'Really Stupid'
According to Merrick, both firms will work together to explore use cases for cross-border payments, digital asset custody, tokenization and, generally, the integration of secure and efficient blockchain solutions into Saudi Arabia’s financial infrastructure.
Prior to the partnership deal, Saudi Arabia had established a Vision 2030 agenda, which involves building a globally competitive and technology-driven economy. Thus, the Ripple and Jeel partnership marks a step forward toward achieving the vision.
You Might Also Like
Sat, 01/24/2026 - 13:09 'Interoperability Is Critical': Ripple Exec Explains How RLUSD Scales Across ChainsByTomiwabold Olajide
By working with Ripple, Jeel aims to evaluate real-world blockchain use cases that support modernization efforts across payments and digital asset services.
XRP gains spotlight in Saudi Arabia
The partnership, which seeks to drive the use of cross border payments in the region, has sparked attention for the firm’s associated digital currency, XRP.
While the partnership aims to improve the speed, cost and transparency of cross-border transactions, it also positions XRP for further recognition as it tends to bolster its adoption as a suitable option for cross border payments within the Saudi Arabian region.
According to Merrick, Saudi Arabia has continued to play a major role in global fintech innovation, and Ripple’s enterprise-grade digital asset technology makes a perfect fit to help both companies enhance its financial infrastructure.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
