UAE — May 2025, Dubai with new strategic partnerships with Zand Bank and fintech startup Mamo, Ripple, a leader in blockchain-based payment systems worldwide, is growing its presence in the United Arab Emirates. These collaborations represent a major advancement in Ripple’s goal to use its blockchain-powered technology to transform international payments in the Middle East.
Ripple became the first blockchain payment startup to obtain a license from the Dubai Financial Services Authority (DFSA) earlier this year, marking a significant regulatory milestone. With its complete operation within the Dubai International Financial Centre (DIFC) made possible by the March 2025 clearance, Ripple will be in a better position to handle cross-border payments into and out of the United Arab Emirates with more independence and compliance.
With this regulatory approval, Ripple is now prepared to launch its main cross-border payments service, Ripple Payments, with Mamo and Zand Bank. The platform offers very instantaneous, inexpensive, and transparent international transactions by utilizing blockchain technology and digital assets to link a large worldwide network of payout partners.
“With our new DFSA license, we can now manage payments end-to-end in the UAE—moving funds globally, 24/7, with near-instant settlement,” said Reece Merrick, Ripple’s Managing Director for the Middle East and Africa. “Our partnerships with Zand and Mamo reflect the strong demand for efficient, blockchain-based alternatives to legacy payment rails.”
Leading the Region’s Blockchain Payment Shift
Zand Bank, the UAE’s first fully digital bank with a full banking license, said the collaboration supports its commitment to offering advanced blockchain solutions for institutions. The bank also revealed plans to launch a stablecoin backed by the UAE dirham (AED), a move designed to accelerate both domestic and cross-border payment capabilities.
Mamo, a fintech startup known for its user-friendly payment services, will leverage Ripple’s platform to streamline global remittances for UAE-based consumers and businesses. CEO Imad Gharazeddine highlighted the partnership as a crucial enabler for local firms looking to scale internationally.
“Ripple’s blockchain settlements offer the speed and reliability UAE businesses need to confidently expand across borders,” Gharazeddine said.
Ripple’s Strategic Roadmap in the Middle East
The alliances with Mamo and Zand Bank coincide with Ripple’s larger regional strategic thrust. The company is aggressively promoting blockchain integration into the UAE’s financial infrastructure and interacting with regulators on stablecoin laws. To further solidify its regional commitment, Ripple is also getting ready for the UAE debut of Hidden Road, a cryptocurrency brokerage that it purchased for $1.25 billion in April.
With more than 60 regulatory licenses in important jurisdictions, Ripple Payments has already handled more than $70 billion in transactions globally. Faster settlement is cited by more than 60% of financial leaders in the Middle East and Africa (MEA) as the primary justification for implementing blockchain-based payment systems, according to recent internal polls.
As the UAE positions itself as a hub for digital finance and innovation, Ripple’s expanding network and regulatory compliance place it at the forefront of the region’s shift toward modern, blockchain-driven financial infrastructure.
