Ripple is taking its “crypto-as-infrastructure” mission to Saudi Arabia through a new partnership with Riyad Bank, one of the Kingdom’s largest lenders with over $130 billion in assets. Announced on January 26, 2026, the deal connects Ripple with Jeel, the bank’s innovation arm, to explore how blockchain can modernize the nation’s financial system. This move is a key part of Saudi Arabia’s Vision 2030, a plan to transform the country into a global tech hub and reduce its reliance on oil.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Ripple Accelerates Global Settlements
The core of this partnership is a “memorandum of understanding” that focuses on making international payments faster and cheaper. Currently, sending money across borders can take days and involve high fees. Ripple’s blockchain tech aims to settle those transactions in seconds. Through its work with Jeel, Riyad Bank’s technology unit, Ripple is helping the Kingdom build a payment corridor that could eventually support high-volume business settlements.
The collaboration also dives into digital asset custody and tokenization. This means Riyad Bank is looking at ways to securely store digital assets and even turn real-world assets, like property or stocks, into digital tokens on the XRP Ledger. This strategy aligns perfectly with the goals of Vision 2030, a plan that prioritizes digital transformation and the growth of a competitive fintech ecosystem.
Saudi Arabia Joins the Middle East Tech Race
While the United Arab Emirates has led the region in crypto adoption, Saudi Arabia is now moving decisively to catch up, putting enterprise-grade systems into production. Reece Merrick, Ripple’s Managing Director for the Middle East, noted that Saudi Arabia’s “visionary leadership” has created a perfect environment for this kind of high-level financial innovation.
This deal is part of a larger trend where the Middle East is emerging as a primary market for digital assets. Ripple has already seen massive success in the region with its RLUSD stablecoin, which has eclipsed $1.3 billion in circulation. The partnership with a heavyweight like Riyad Bank ensures that Ripple’s technology stays at the heart of the region’s massive wealth migration into the digital age.
The XRP Ledger Surpasses $1 Billion in Tokenized Assets
The news comes as the XRP Ledger reaches a major milestone, surpassing $1 billion in on-chain tokenized assets. Institutional interest is shifting away from simple trading and toward using the ledger as a permanent home for financial products. From tokenized U.S. Treasuries to new private funds, the institutional inflection point for 2026 is clearly underway.
At the time of writing, XRP is sitting at $1.9129.
