Ripple Expands Its Influence in the Middle East with Partnerships
Ripple has established new partnerships in the UAE to bolster its payment solutions.
Ripple has made a significant step in the UAE by partnering with Zand Bank and Mamo in order to enhance its payment solutions. On May 19, 2025, it was revealed that Zand Bank, recognized as the UAE鈥檚 first fully licensed all-digital bank, and Mamo, a fintech company offering digital payment services, have decided to utilize Ripple Payments following the firm’s acquisition of a regulatory license from Dubai Financial Services Authority (DFSA).
Zand Bank intends to integrate Ripple鈥檚 technology within its digital asset offerings and has plans for an AED-backed stablecoin to improve transaction efficiency. Mamo aims to facilitate international payments and assist local businesses through its collaboration with Ripple.
“Ripple Payments momentum is building in the UAE. 馃嚘馃嚜 Twitter Link”
Translation: The momentum for Ripple Payments is growing in the UAE.
Having received its DFSA license in March 2025, Ripple now has the capability to oversee the complete payment process for its clients, ensuring global funds transfer occurs smoothly with instant settlements.
“Securing our DFSA license allows Ripple to cater to the demand for solutions addressing inefficiencies in traditional cross-border payments, including high costs and lengthy settlement durations, within one of the largest remittance markets globally,” stated Reece Merrick, Managing Director at Ripple.
Subsequently, the partnerships with Zand Bank and Mamo reflect the energy generated by the license for Ripple鈥檚 business growth.
Key Highlights
- Ripple can execute end-to-end payment processing for its clients, facilitating uninterrupted global currency movement and immediate settlements.
- Zand Bank intends to release an AED-backed stablecoin.
- Approximately 64% of leaders in the Middle East view rapid payments as crucial for adopting blockchain in cross-border trading.
