26-5-2025 – Ripple has forged strategic alliances with Zand Bank, a fully licensed institution in the UAE, and Mamo, a dynamic fintech enterprise. These partnerships will harness Ripple Payments, a blockchain-powered platform designed to streamline cross-border transactions, marking a pivotal moment for the region’s financial ecosystem.
The UAE’s progressive regulatory environment has played a key role in this development. Earlier this year, Ripple secured a landmark approval from the Dubai Financial Services Authority, becoming the first blockchain-enabled payment provider licensed within the Dubai International Financial Centre. This milestone empowers Ripple to deliver round-the-clock global payment solutions with instantaneous settlement, offering unparalleled efficiency for international transfers.
Zand Bank, a trailblazer in the UAE’s banking sector, is set to introduce a stablecoin pegged to the AED, underscoring the growing embrace of blockchain technology in the region. Chirag Sampat, the bank’s Head of Treasury and Markets, highlighted the transformative potential of integrating blockchain and artificial intelligence into their operations, positioning Zand as a leader in innovative finance.
Meanwhile, Mamo’s CEO, Imad Gharazeddine, hailed the collaboration as a cornerstone for supporting the UAE’s thriving commercial landscape. With projections indicating that the emirate could host over one million businesses by 2030, this partnership is poised to bolster the infrastructure needed to sustain such growth.
Ripple’s global footprint is formidable, with its technology facilitating transactions across more than 90 payout markets, accounting for over 90% of the world’s daily foreign exchange volume. The company has processed transactions exceeding $70 billion and holds licences in more than 60 jurisdictions, including the United States, Brazil, Mexico, and Australia.
The UAE’s clear and accommodating regulatory framework continues to draw cryptocurrency firms, offering a stark contrast to the European Union’s more restrictive Markets in Crypto-Assets regulations, which have posed challenges for many in the sector.
