Ripple partners with Saudi fintech firm Jeel

Ripple (XRP) has partnered with Saudi Arabian fintech company Jeel, U.Today reported. Reece Merrick, Ripple's Managing Director for the Middle East and Africa, stated via his X account that Jeel is the fintech subsidiary of the Saudi Arabian bank, Riyad Bank. He added that the partnership aims to promote the adoption of blockchain within Saudi Arabia's financial infrastructure. The two companies will collaborate on areas including cross-border payments, digital asset custody, and expanding tokenization use cases.