✅ Ripple and Jeel (innovation unit of Riyad Bank) have signed a collaboration to explore blockchain and international payments using Ripple technology. This includes studying applications such as cross-border payments, digital asset custody, and tokenization, within a regulated environment (sandbox) in Saudi Arabia.
Ripple +1
🔎 Riyad Bank is one of the important banks in the country (there is no solid public evidence that it is the third largest, but it is indeed relevant).
new.intellinews.com
📌 This type of partnership does not mean that:
the bank has purchased large amounts of XRP as a treasury asset,
the bank is using XRP as its currency,
or that it is "promoting XRP globally" officially.
📍 What there is no evidence of at the moment
❌ There is no official announcement that a Saudi bank has massively invested in XRP as a reserve or as an internal currency.
❌ There is no confirmation that "the third largest bank" in Saudi Arabia is buying and promoting XRP as its official currency.
🧠 Why this confusion may arise
Many analysts and users project collaborations as if that bank were to:
adopt XRP directly in production at a large scale,
purchase large amounts of XRP,
or integrate it as currency within the banking system.
But the reality is that these partnerships are in exploration and pilot stages, not massive implementations of XRP as currency or reserve.
FX Leaders
📌 Conclusion
➡️ The actual announcement is a pilot partnership between Ripple and the innovation unit of Riyad Bank to explore blockchain use cases.
➡️ There is no reliable public evidence that this bank has purchased large amounts of XRP or that it is promoting it as "official currency".
Ripple +1
🔎 Riyad Bank is one of the important banks in the country (there is no solid public evidence that it is the third largest, but it is indeed relevant).
new.intellinews.com
📌 This type of partnership does not mean that:
the bank has purchased large amounts of XRP as a treasury asset,
the bank is using XRP as its currency,
or that it is "promoting XRP globally" officially.
📍 What there is no evidence of at the moment
❌ There is no official announcement that a Saudi bank has massively invested in XRP as a reserve or as an internal currency.
❌ There is no confirmation that "the third largest bank" in Saudi Arabia is buying and promoting XRP as its official currency.
🧠 Why this confusion may arise
Many analysts and users project collaborations as if that bank were to:
adopt XRP directly in production at a large scale,
purchase large amounts of XRP,
or integrate it as currency within the banking system.
But the reality is that these partnerships are in exploration and pilot stages, not massive implementations of XRP as currency or reserve.
FX Leaders
📌 Conclusion
➡️ The actual announcement is a pilot partnership between Ripple and the innovation unit of Riyad Bank to explore blockchain use cases.
➡️ There is no reliable public evidence that this bank has purchased large amounts of XRP or that it is promoting it as "official currency".