Ripple partners with a division of Saudi bank Riyad Bank to develop blockchain payment and custody services.

Ripple has partnered with Jeel, the innovation arm of Saudi Arabia's major financial institution, Riyad Bank, and the two companies will sign a memorandum of understanding to jointly explore the application of blockchain technology in the country's financial system. The collaboration will focus on cross-border payments, digital asset custody, and asset tokenization, aiming to support Saudi Arabia's "Vision 2030" economic transformation strategy.