important notes
Ripple and Riyadh Bank recently entered into a strategic partnership to explore blockchain. Their goal is to strengthen financial services across Saudi Arabia. This partnership comes after Ripple secured an EMI license in Luxembourg.
Ripple Labs, a San Francisco-based blockchain payments company, has signed a major contract with Riyadh Bank in the Middle East. Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, announced the new development on X, saying it is a move aimed at advancing Saudi Arabia’s financial future through blockchain innovation.
Jeel considers tokenization with Ripple
Ripple’s deal is specifically with Zeal, a subsidiary of Riyadh Bank. They will work together to explore advanced blockchain applications focused on enhancing financial services across Saudi Arabia.
The goal is to develop a secure and transparent digital infrastructure that can support the Middle East. Merrick acknowledged the move was in line with the country’s vision.
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
These are key areas of opportunity for remittances and trade corridors in the Gulf region. Cryptocurrency custody and tokenization are quickly becoming two of the most powerful innovations that are emerging as fundamental elements of the next generation of financial markets. This enables the storage of digital assets and the representation of real-world assets (RWA) on blockchain networks.
Additionally, this is another development within the crypto space that indicates increased institutional demand for crypto assets.
Ripple expands business with Garanti BBVA
On the other hand, Ripple is taking a big step forward in the cryptocurrency space. A few days ago, the company’s USD-pegged stablecoin RLUSD was listed on Binance, the industry’s largest cryptocurrency exchange.
This is an important move that can direct more liquidity into the Ripple ecosystem. Currently, it is only supported on Ethereum, with XRPL support planned for later.
Ripple has also expanded its cooperation with Turkish financial institution Galanti BBVA. The bank will continue to leverage Ripple’s institutional-grade custody technology to securely secure key crypto assets such as BTC and ETH for its users. This reflects the company’s confidence in Ripple.
The San Francisco-based company also secured preliminary approval for a Luxembourg electronic money institution (EMI) license.
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Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about real-world applications of blockchain technology and the innovations that drive public acceptance and global integration of emerging technologies. His desire to educate people about cryptocurrencies has inspired his contributions to popular blockchain media and sites.
Godfrey Benjamin of X
