Ripple has significantly expanded its footprint in the United Arab Emirates (UAE) by announcing partnerships with Zand Bank and fintech platform Mamo.
The move follows Ripple securing a coveted license from the Dubai Financial Services Authority (DFSA), making it the first blockchain-enabled payments provider to be approved by the regulator.
Through this license, Ripple can now offer regulated, blockchain-powered payment solutions in one of the world’s most important remittance hubs.
The partnerships will enable both Zand Bank and Mamo to integrate Ripple Payments into their operations, providing businesses and consumers with 24/7, near-instant cross-border payment capabilities.
Blockchain Technology Tackles Legacy Cross-Border Payment Challenges
Ripple Payments utilizes blockchain infrastructure and a global network of payout partners to address long-standing inefficiencies in traditional cross-border payment systems.
These issues typically include high transaction fees, prolonged settlement times, and limited transparency.
With the DFSA license in hand, Ripple can now fully manage cross-border transactions end-to-end, reducing friction and significantly improving the speed and reliability of moving money in and out of the UAE.
The adoption of Ripple’s infrastructure by both a digital-native bank like Zand and a forward-thinking fintech like Mamo highlights growing confidence in blockchain as a mainstream solution for modern finance.
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Market Readiness in the Middle East Fuels Adoption of Ripple Payments
Ripple’s entry into the UAE market is timely, aligning with a regional shift toward embracing blockchain-based financial solutions.
According to Ripple’s 2025 New Value Report, 64% of financial leaders in the Middle East and Africa (MEA) region identified faster payment and settlement times as a key reason for adopting blockchain for cross-border payments.
Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, noted that the UAE’s supportive regulatory environment is helping position the nation as a global leader in blockchain-based financial innovation.
These recent partnerships reflect growing demand from both traditional banks and crypto-native firms for secure, efficient digital payment infrastructure.
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Zand and Mamo Aim to Revolutionize Payments with Ripple’s Support
Both Zand Bank and Mamo have expressed strong optimism about their collaborations with Ripple.
Zand Bank, a pioneering institution with a full banking license, is aiming to enhance its digital economy contributions by launching an AED-backed stablecoin and offering institutional-grade digital asset custodial services.
Chirag Sampat, Head of Treasury and Markets at Zand Bank, emphasized the role of Ripple in supporting these innovations.
Similarly, Mamo’s CEO Imad Gharazeddine highlighted how the partnership with Ripple will allow his company to provide faster.
Also, more accessible global payments, especially important as the UAE prepares to host over one million businesses by 2030.
With more than $70 billion in processed volume and near-global coverage, Ripple’s platform is well-equipped to meet the evolving demands of the region’s rapidly growing digital economy.
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