Vision 2030 Drives SAB’s Collaboration on Blockchain with Chainlink

Saudi Awwal Bank (SAB), a leading financial institution in Saudi Arabia,

with assets exceeding $100 billion, has entered into a partnership with to promote onchain financial solutions within the country. This alliance, established through an innovation agreement, aims to utilize Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and Chainlink Runtime Environment (CRE) for creating secure, blockchain-driven financial applications. SAB intends to implement these technologies for tokenized asset movement, international payments, and seamless interaction between public and private blockchain systems. This initiative supports Saudi Arabia’s Vision 2030, which seeks to upgrade the nation’s financial services through regulated technological progress.

With Chainlink’s CCIP, secure exchange of data and tokens across different blockchains becomes possible, while CRE offers a decentralized environment for managing and executing validated workflows involving both blockchains and external platforms. These tools will allow SAB to digitize deposits, automate international settlements, and simplify processes in capital markets. Using CCIP, the bank can provide verified settlements and enforce policy controls over various blockchain networks, a vital feature for large-scale institutional use. The CRE platform further supports this by enabling customizable, traceable workflows that can connect with traditional banking infrastructure, helping to minimize reconciliation tasks and increase overall transparency.

This partnership reflects a wider movement among institutions to embrace blockchain infrastructure. SAB joins the ranks of global players such as

and Société Générale, who are exploring tokenized financial products. For instance, JPMorgan’s Onyx blockchain has piloted interbank transfers, while Société Générale has launched tokenized bonds on . Through its collaboration with Chainlink, SAB is contributing to the growing momentum of blockchain adoption in the Middle East, where regulatory frameworks and infrastructure are evolving rapidly. SAB’s earlier partnership with Wamid to investigate capital market tokenization further strengthens Saudi Arabia’s position as a center for compliant digital asset advancements.

The market has reacted favorably to this development. Over the last year, Chainlink’s native token, LINK, has climbed 117.5%, recently trading at $23.16. VirtualBacon, a prominent crypto analyst, anticipates that LINK could go up to $52 before the year ends, pointing out the token’s progression from a DeFi

to a foundational provider for real-world assets and institutional clients. This positive outlook is also influenced by Chainlink’s growing integration with AI and DeFi, such as its partnerships with Aethir’s AI Unbundled Alliance and Bitlayer’s Layer 2 ecosystem.

SAB’s integration of Chainlink technologies signals the increasing convergence between mainstream finance and decentralized networks. By focusing on safety, interoperability, and regulatory standards, the bank is working to make Saudi Arabia a leader in modern financial infrastructure. The collaboration also emphasizes Chainlink’s technological capabilities, including its $62.9 billion in total value secured (TVS) and its support for $25 trillion in transaction value via its oracle systems. As SAB trials these solutions, its outcomes may pave the way for broader onchain finance adoption throughout the Gulf Cooperation Council (GCC) and elsewhere.