While many countries still debate about crypto, major banks in the Middle East are quietly testing blockchain.
Ripple has just signed a partnership with Jeel – the innovation department of Riyad Bank, one of the largest banks in Saudi Arabia, to research the application of blockchain in the national financial system.
📌 What will the parties test?
🔹 Cross-border payments
🔹 Digital asset custody
🔹 Tokenization of assets
👉 These are all areas where blockchain is expected to help reduce costs, increase speed, and provide more transparency compared to traditional systems.
🌍 Why is this agreement noteworthy?
Riyad Bank is managing over 130 billion USD in assets
This collaboration is linked to Saudi Arabia's Vision 2030 program
Indicates that major banks in the Middle East are increasingly open to blockchain
📌 Not only experimenting with technology, this is also a signal of a shift in mindset within the regional financial system.
🔍 Personal perspective
Personally, I believe that the Middle East could become one of the leading regions in adopting blockchain at the banking level, especially since they have significant capital and a determination to modernize finance.
❓ A question for you
In your opinion, the collaboration of major banks with Ripple:
Is this a technological experimentation step?
Or a sign of a waveof traditional finance being blockchainizedthat is accelerating?
💬 Share your perspective.
