TLDR
- Saudi Aramco has confirmed it is not working with the XRP Ledger on any oil tokenization project.
- A false document claimed a partnership between Saudi Aramco and White Network using XRPL technology.
- The document included a fake signature and the name of a non-existent Saudi official.
- The signature on the document closely resembles that of an Iranian actress, raising doubts about its authenticity.
- Saudi Aramco’s only recent digital partnership involved SBI Group and did not include XRP Ledger or blockchain-based oil projects.
Claims of a partnership between Saudi Aramco and the XRP Ledger (XRPL) surfaced online this week and are gaining rapid attention. However, Saudi Aramco has confirmed it is not engaged in any collaboration with XRPL. This false information misused Aramco’s name and misrepresented its involvement in blockchain technology.
Aramco Denies XRP Ledger Oil Deal
A document recently circulated online claimed Saudi Aramco was working with White Network to tokenize oil using the XRP Ledger. The paper appeared official and included the name and signature of a person identified as Sheikh Abdullah bin Khalid Al-Falih. However, no individual by that name holds any official government position in Saudi Arabia.
🚨 BREAKING: Rumors are circulating that Saudi Arabia's oil giant, Aramco, is exploring the tokenization of its oil reserves on the #XRP Ledger through a project called WhiteRock.
However, it's important to note that there has been no official confirmation from Aramco regarding… pic.twitter.com/LpdGrlbDwa
— BULLRUNNERS (@BullrunnersHQ) May 30, 2025
Khalid bin Abdulaziz Al-Falih, Minister of Investment, shares a similar name but is not connected to this initiative. Analysts found the signature on the document resembles that of Iranian actress Mahtab Keramati. This raises further questions about the authenticity and purpose behind the release of the document.
Despite its visual credibility, the document misleads by falsely linking Saudi Aramco with XRPL in an oil tokenization effort. Saudi Aramco has not disclosed any interest in blockchain or the XRP Ledger for tokenizing oil. The situation reflects a pattern of misinformation aimed at gaining traction through the XRPL community’s enthusiasm.
Aramco Partnership With Japanese SBI Group
Saudi Aramco did explore a digital venture in 2023, but it did not involve the XRP Ledger or tokenized oil. It partnered with SBI Group, a Japanese financial company that has links with Ripple but not XRPL for oil applications. The initiative focused on digital asset investments without using XRPL as infrastructure.
WhiteRock, which has ties to the XRP Ledger, was also not part of any oil-based deal involving Aramco or tokenization. Two months ago, WhiteRock launched its securities trading platform on the XRPL mainnet. That platform supports digital assets like stocks and bonds, not commodities such as oil.
Aramco continues to focus on energy partnerships and financial investments without venturing into blockchain-based oil tokenization. The current claims appear designed to associate a known company with XRPL to boost credibility. Saudi Aramco has not indicate a blockchain pivot involving the XRP Ledger.
VivoPower Unveils XRP-Based Treasury Strategy
The Dubai Land Department recently announced plans to use the XRP Ledger for a $16 billion real estate tokenization project. This marks one of the largest public endorsements of XRPL for institutional infrastructure. The department aims to use XRPL’s stability and performance to manage assets.
Similarly, VivoPower International revealed a treasury strategy built around XRP, marking a new approach among publicly listed firms. The strategy followed a private capital raise and represents a significant adoption milestone for XRPL in the corporate sector. XRP Ledger continues to gain recognition in areas outside oil and energy.
Although XRP Ledger adoption is growing through verified partners, none of these include Saudi Aramco in any capacity. Despite these developments, XRP’s price remains volatile, showing minimal reaction to ongoing ecosystem updates.
