Saudi’s Oil Giant Partners with Ripple XRP, WHITE: Fact Check

A rumor post on social media was the one that stated Saudi Arabia’s oil giant, Aramco, partnered with the cryptocurrency projects $WHITE and XRP. It claims this is the biggest deal in blockchain tokenization history and the price of $WHITE rose 50% in an hour.

But no official statement from Aramco was obtained regarding such a thing. No kind of press release came from trusted sources. No news is reported about this deal concerning $WHITE or XRP.

There have been historical ties between Aramco and cryptocurrency. In December 2023, Aramco entered into an agreement with SBI Holdings, a Japanese firm that has a close relationship with Ripple (the organization behind XRP). This was to dive into blockchain and digital investment prospects, not an explicit deal with XRP itself.

The rumors also claim that a project named WhiteRock is attempting to tokenize oil utilizing the White Network and the XRP Ledger, but this is not verified by Ripple or Aramco.