Key takeaways
- Ripple has significantly strengthened its presence in the UAE by partnering with Zand Bank and Mamo, two leading local financial institutions.
- This expansion follows Ripple’s milestone achievement of becoming the first blockchain-enabled payments provider licensed by the Dubai Financial Services Authority (DFSA) in March 2025
- Zand Bank is integrating Ripple’s blockchain-powered cross-border payments into its operations. The bank is also working on launching an AED-backed stablecoin
- Mamo, a rapidly growing fintech company, will integrate Ripple Payments to enhance its cross-border payment services to offer Mamo’s customers faster and cheaper experiences
- The UAE is positioning itself as a global leader in blockchain innovation, supported by regulatory advancements and strategic partnerships.
- Ripple’s expansion into the UAE market highlights the region’s commitment to leveraging blockchain technology for financial efficiency
US-based fintech giant Ripple is making major strides in the UAE. It has secured strategic partnerships with leading local financial institutions, Zand Bank and Mamo, with both firms adopting the Ripple Payments solution. The move follows Ripple’s approval by the Dubai Financial Services Authority (DFSA) to become the first blockchain-enabled payments provider to receive such a license, as announced in their official X account:
This achievement marks a significant step forward in the UAE’s ambition to be a global hub for blockchain and digital finance. With its new DFSA license, Ripple is now authorized to offer its blockchain-based payment services within the Dubai International Financial Centre (DIFC), one of the region’s most prominent financial zones.
Ripple Streamlining Cross-Border Payments with Blockchain
Ripple Payments uses blockchain technology to make international money transfers faster, cheaper, and more transparent. It connects banks, fintech companies, and crypto businesses through a global network, allowing them to send and receive payments in local currencies or stablecoins without needing to hold digital assets.
By eliminating the need for pre-funding accounts in different countries, Ripple’s system frees up working capital and reduces the inefficiencies of traditional banking systems.
By partnering with Ripple, Zand Bank and Mamo will now integrate these capabilities into their offerings, enhancing international money transfers for their customers.
UAE Partnerships: Zand Bank and Mamo Lead the Way
Zand Bank, recognized as the UAE’s first fully digital commercial bank, continues to innovate by embracing blockchain-powered financial solutions. In addition to adopting Ripple’s technology, the bank recently announced plans to launch an AED-backed stablecoin, signaling its deeper commitment to digital asset adoption.
Meanwhile, fintech startup Mamo, which focuses on simplifying international remittances, aims to use Ripple’s infrastructure to deliver faster and more cost-effective cross-border payments. The partnership aligns with Mamo’s mission to make sending and receiving money as easy as sending a text.
UAE Embracing Innovation
Ripple’s expansion comes amid growing momentum for blockchain in the Middle East. According to the company’s 2025 New Value Report, 64% of financial leaders in the Middle East and Africa cite faster settlement times as the top reason for adopting blockchain in cross-border payments.
“The forward-thinking approach by UAE regulators has created an environment where companies like Ripple can thrive, delivering next-generation payment solutions that benefit both institutions and consumers,” said Reece Merrick, Ripple’s Managing Director for the Middle East and Africa.
Ripple Tapping into a $40 Billion Remittance Market
The UAE represents a massive opportunity for Ripple, with its $400 billion economy and a $40 billion remittance market, one of the largest globally. As Ripple deepens its footprint in the region, these new partnerships are expected to play a key role in the company’s broader global expansion strategy as disclosed in its official press release.
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