Jeel And Ripple Partners To Accelerate Saudi Arabia’s Blockchain Revolution
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Jeel and Ripple have partnered to test blockchain for payments custody and tokenization in a regulated environment. The initiative aims to enhance transaction speed and compliance in Saudi Arabia's fintech sector. This collaboration allows Ripple access to local fintech networks, promoting cross-border payments and digital asset innovations.
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- Jeel Ripple partnership tests blockchain for payments custody and tokenization in a regulated sandbox.
- The project focuses on faster remittances, scalable infrastructure and compliance frameworks.
- Ripple gains access to Saudi fintech networks while Jeel expands its innovation strategy.
Saudi Arabia’s financial technology sector is experiencing new expansion following the Jeel Ripple partnership, which brings together Jeel, the innovation and technology arm of Riyad Bank, and blockchain firm Ripple to explore regulated blockchain applications in financial services. The collaboration focuses on practical use cases, including cross-border payments, digital asset custody, and asset tokenization, within a controlled regulatory environment.
The initiative centers on testing how blockchain infrastructure can improve transaction speed, operational efficiency, and transpa…
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