Riyad Bank’s digital innovation arm, Jeel, has entered a new partnership with blockchain firm Ripple to test blockchain-based payment solutions within Saudi Arabia’s regulatory sandbox, marking a notable step in the Kingdom’s push to modernise its financial infrastructure.

The initiative will examine how distributed ledger technology can be used to improve the speed, transparency and efficiency of domestic and cross-border payments under the supervision of Saudi regulators.

The sandbox programme allows financial institutions and technology providers to trial innovative products in a controlled environment while ensuring compliance with regulatory and security standards.

Under the partnership, Jeel and Ripple will assess the practical application of Ripple’s payment technology, including real-time settlement and enhanced liquidity management, with a focus on use cases relevant to Saudi banks and businesses.

Officials involved in the project said the collaboration reflects Saudi Arabia’s broader ambition to position itself as a regional leader in financial technology.

By combining Riyad Bank’s local market expertise with Ripple’s global blockchain capabilities, the testing phase is intended to identify scalable solutions that could reduce costs and processing times for international transfers, benefiting corporates, small businesses and consumers.

The move aligns with the Kingdom’s financial sector development goals, which emphasise digital transformation, innovation and greater integration with global financial systems.

Regulators have encouraged banks to explore emerging technologies through sandbox frameworks as a way to balance innovation with stability and risk management.

Industry observers note that successful outcomes from the Jeel–Ripple tests could pave the way for broader adoption of blockchain-enabled payments in Saudi Arabia, reinforcing confidence in regulated digital finance solutions and supporting the country’s evolving role in the global payments ecosystem.