Ripple Expands its Footprint in the UAE with New Partnerships
In a significant move for the financial technology landscape, Ripple, a pioneer in providing digital asset infrastructure, has announced its latest venture into the United Arab Emirates (UAE). This expansion is marked by a collaboration with two prominent financial entities in the region: Zand Bank and Mamo. These partnerships are part of Ripple’s strategic plan to employ its advanced payment solution, Ripple Payments, which leverages blockchain technology to enhance cross-border transactions.
Understanding Ripple Payments
Ripple Payments is a sophisticated platform that utilizes blockchain technology, digital assets, and a network of global payout partners. The primary goal is to facilitate cross-border payments that are fast, transparent, and reliable. This system is designed to support banks, cryptocurrency companies, and financial technology firms worldwide. By integrating Ripple Payments, these institutions can achieve seamless financial transactions across borders, enhancing efficiency and reducing costs.
Regulatory Milestones in Dubai
Earlier this year, Ripple achieved a significant milestone by becoming the first blockchain-enabled payments provider to receive a license from the Dubai Financial Services Authority (DFSA). This endorsement enables Ripple to manage payments comprehensively for its clientele, offering round-the-clock, global fund transfers. The ability to settle payments in mere minutes is set to revolutionize how financial transactions are conducted in and out of the UAE, minimizing delays and friction commonly associated with traditional payment systems.
Reece Merrick, Managing Director for the Middle East and Africa at Ripple, emphasized the importance of this development. He noted that the DFSA license allows Ripple to address long-standing inefficiencies in traditional cross-border payments, such as high fees and extended settlement times. Merrick also highlighted the UAE’s proactive stance in creating a supportive environment for cryptocurrency innovation, which positions the nation to harness the transformative potential of blockchain technology.
Partnering with Zand Bank and Mamo
Ripple’s collaboration with Zand Bank and Mamo underscores the growing demand for innovative payment solutions in the Middle East. Zand Bank, a trailblazer in the financial sector with a comprehensive banking license, is committed to fostering a robust digital economy. By integrating Ripple’s blockchain solutions, Zand Bank aims to offer cutting-edge financial products, including digital asset custodial services and an AED-backed stablecoin. This stablecoin is expected to further streamline transactions in the digital economy.
Chirag Sampat, Head of Treasury and Markets at Zand Bank, expressed enthusiasm about the partnership with Ripple. He emphasized the bank’s dedication to global payment solutions and its role in shaping a stronger digital economy through technological advancements in blockchain and artificial intelligence.
Mamo, another key partner, is at the forefront of simplifying global payments in the UAE. The company’s collaboration with Ripple is a testament to its commitment to enhancing payment accessibility and reliability for businesses and consumers alike. Imad Gharazeddine, CEO and co-founder of Mamo, highlighted the potential of this partnership to foster business growth across the UAE, facilitating faster and more dependable cross-border payments.
Middle East’s Growing Appetite for Blockchain Solutions
The Middle East is witnessing a significant shift towards blockchain-based payment solutions. According to Ripple’s 2025 New Value Report, a substantial 64% of finance leaders in the Middle East and Africa region recognize the importance of faster payments and settlement times. This growing awareness is driving the adoption of blockchain-based currencies for cross-border transactions.
Ripple’s success in securing partnerships with Zand Bank and Mamo reflects this trend, as both crypto-native firms and traditional financial institutions seek to capitalize on the benefits of blockchain technology. The ability to process payments swiftly and transparently is becoming a critical factor in the evolving financial landscape.
Ripple’s Global Reach and Expertise
With over a decade of experience in the digital asset space, Ripple is well-equipped to meet the needs of financial institutions seeking to tokenize, store, exchange, and move digital assets. The company’s payment solution boasts near-global coverage, with over 90 payout markets representing more than 90% of daily foreign exchange markets. In 2025 alone, Ripple processed more than $70 billion in transaction volume, highlighting its capacity to handle substantial financial operations.
Ripple’s presence extends beyond the UAE, with its licensed payment solution also available in major markets like the United States, Brazil, Mexico, Australia, and Switzerland. The company’s extensive regulatory compliance is underscored by its possession of over 60 regulatory licenses and registrations across various jurisdictions, including the pivotal DFSA license obtained in March 2025.
Conclusion
Ripple’s strategic expansion into the UAE, marked by partnerships with Zand Bank and Mamo, signals a new era for cross-border payments in the region. By leveraging blockchain technology, Ripple is poised to address long-standing inefficiencies in traditional payment systems, offering faster, more transparent, and cost-effective solutions. As the Middle East continues to embrace digital innovation, Ripple’s expertise and global reach position it as a key player in the region’s financial transformation. For more detailed information, you can visit Ripple’s official website.
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