Riyad Bank’s innovation arm, Jeel, said it has entered a strategic partnership with Ripple to pilot blockchain-based cross-border payments, digital-asset custody frameworks, and real-world-asset tokenization. The initiative is positioned as a Saudi Vision 2030-aligned program focused on faster settlement, reduced operational drag, and higher transaction transparency.
The work will run through Jeel’s regulatory sandbox and is structured as a controlled test environment rather than a full commercial launch. Jeel is using the sandbox to validate whether XRPL-based solutions can reduce settlement time and limit pre-funding needs while keeping supervisory expectations front and center.
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
— Reece Merrick (@reece_merrick) January 26, 2026
Cross-border payments and custody pilots
On cross-border payments, the parties plan to explore RippleNet and an On-Demand Liquidity model that uses XRP as a bridge currency for near-instant settlement. The core promise is to cut correspondent-banking frictions by reducing reliance on pre-funded nostro/vostro accounts while improving end-to-end visibility of transaction status.
Custody is the second pillar, with pilots designed to test safeguarding models for digital assets inside the sandbox. The stated objective is to prove security, segregation of client assets, and compliance controls before any broader rollout is considered.
Tokenization is the third pillar, with Jeel and Ripple prioritizing RWA issuance and transfer mechanics on the XRP Ledger. The plan leans on XRPL’s sub-five-second settlement profile, negligible transaction costs, and a Multi-Purpose Token standard intended to embed compliance attributes into token representations.
Operational readiness and oversight
The sandbox approach implies heavier governance requirements by design, including documentation, reporting workflows, and AML/CFT controls that can withstand supervisory review. Compliance teams will need to demonstrate that on-chain controls are enforceable within domestic legal frameworks and that custody and transaction monitoring remain auditable end to end.
From a treasury standpoint, the reduction of pre-funded accounts could lower capital tied up in multi-currency corridors if deterministic settlement and counterparty controls hold up in practice. The practical test will be whether pilot results translate into reliable cost and settlement behavior that institutions can reconcile cleanly with regulated accounting and reporting processes.
