Ripple Partner Thunes Selected by Saudi Bank to Modernize International Remittances
Al Jazira Bank, a leading Saudi Arabian financial institution, has selected Thunes, a Ripple network partner, to power its next-generation global remittance services. The partnership is aimed at improving the speed, reliability, and geographic reach of consumer remittances originating from Saudi Arabia.
Al Jazira Bank, one of Saudi Arabia's prominent financial institutions, has announced a partnership with Thunes to upgrade and expand its international remittance capabilities. Thunes, which operates within the Ripple payments ecosystem, will provide the infrastructure underpinning the bank's global payment flows.
The collaboration is designed to modernize cross-border payment services for consumers sending money from Saudi Arabia to destinations around the world. Key goals include increasing transaction speed, improving reliability, and broadening the range of payment endpoints and corridors available to customers.
Thunes operates a direct global payments network that connects banks, mobile wallets, and other financial institutions across multiple regions. Its involvement with Ripple's partner network positions this deal as another real-world deployment of Ripple-linked infrastructure in the Gulf region's financial sector.
Saudi Arabia represents a strategically significant remittance market given its large expatriate workforce and high volume of outbound international transfers. The selection of a Ripple ecosystem partner to power this corridor reflects continued institutional interest in leveraging blockchain-adjacent payment rails for cross-border transactions.
Key facts
- •Al Jazira Bank in Saudi Arabia has selected Thunes to power its global remittance services
- •Thunes is a partner within the Ripple payments ecosystem
- •The partnership targets improved speed, reliability, and expanded payment destinations
- •Saudi Arabia is a high-volume remittance market due to its large expatriate population
- •The deal represents another Ripple ecosystem deployment in the Gulf region