Ripple enters new partnership with Saudi fintech firm, expanding cooperation on Middle East payments and tokenization
Summary
- Ripple said it has signed a new partnership with Saudi fintech firm Jeel.
- The two sides said they plan to jointly explore blockchain use cases across Saudi Arabia’s financial services, including cross-border payments, digital asset custody and tokenization.
- He said the focus will be on integrating secure and efficient blockchain solutions into Saudi Arabia’s financial infrastructure.
Ripple is joining forces with a Saudi Arabian fintech company to expand collaboration on blockchain-based financial services across the Middle East.
According to crypto-focused media outlet U.Today on the 26th, Reece Merrick, Ripple’s managing director for the Middle East and Africa, said, “Ripple has signed a new partnership with Jeel, a Saudi Arabian fintech company.”
Ripple signed an MOU with Jeel, an innovation unit under Riyad Bank. The two sides plan to jointly explore blockchain use cases across Saudi Arabia’s financial services, including cross-border payments, digital asset custody and tokenization.
Merrick explained, “The two sides will jointly review potential applications in cross-border payments, digital assets and tokenization,” adding, “We will focus on integrating secure and efficient blockchain solutions into Saudi Arabia’s financial infrastructure.”
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
