Saudi Awwal Bank (SAB) has partnered with Chainlink to integrate blockchain technology into its core financial operations. Instead of focusing on cryptocurrency trading, the bank is leveraging Chainlink's infrastructure-level technology to enhance its services.
A key part of the partnership involves the adoption of Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which will allow SAB to securely connect different blockchains for smoother cross-platform transactions. Additionally, the Chainlink Runtime Environment (CRE) will provide a secure tool for developers to build new financial applications that link traditional banking systems with blockchain.
This collaboration is a part of Saudi Arabia's broader national digital strategy, which encourages banks to use emerging technologies to improve speed, security, and transparency. The partnership could eventually lead to benefits for customers, such as faster and cheaper international transfers and new blockchain-based financial products. By using Chainlink's infrastructure, which is built with regulatory compliance in mind, SAB can meet the strict standards required of financial institutions in Saudi Arabia.
In the long term, this initiative could pave the way for the tokenization of assets like real estate and bonds, and streamline processes such as lending and insurance through the use of smart contracts. This partnership signals that programmable finance is moving from a theoretical concept to a practical application in the Gulf region.
September 2025, Cryptoniteuae