Ripple, a leading provider of digital asset infrastructure for financial institutions, has announced its first customers in the United Arab Emirates (UAE). The partnerships with Zand Bank and Mamo will utilize Ripple Payments, which incorporates blockchain technology to offer fast and transparent cross-border payments. This service is designed for banks, crypto companies, and fintechs globally.

After obtaining a regulatory license from the Dubai Financial Services Authority (DFSA), Ripple is now positioned to manage payments end-to-end for its clients. This capability allows funds to be moved worldwide 24/7, settling transactions in minutes. The new DFSA license significantly enhances the efficiency of transferring value in and out of the UAE.

Reece Merrick, Managing Director for the Middle East and Africa at Ripple, highlighted that the DFSA license enables the company to address traditional cross-border payment issues, including high fees and lengthy settlement times. He noted that this partnership reflects the growing demand for innovative payment solutions in one of the world’s largest cross-border payments hubs.

Ripple is experiencing increased interest in its payment solutions across the Middle East, with both crypto-native firms and traditional financial institutions seeking to integrate blockchain technology. According to Ripple’s 2025 New Value Report, 64% of finance leaders in the Middle East and Africa view improved payment speeds and settlement times as a key reason to adopt blockchain-based currencies.

Chirag Sampat, Head of Treasury and Markets at Zand Bank, stated that the bank is committed to enhancing the digital economy by offering innovative financial products and blockchain solutions. He also mentioned an upcoming launch of an AED-backed stablecoin to facilitate smoother transactions in the evolving digital landscape.

Imad Gharazeddine, CEO and co-founder of Mamo, expressed pride in contributing to the UAE’s growth by simplifying global payments. He emphasized that the partnership with Ripple is a significant step towards providing faster and more reliable cross-border payment options for businesses and consumers alike.

Ripple’s payments infrastructure supports a wide range of financial services, processing over $70 billion in transaction volume and covering more than 90% of daily foreign exchange markets. With over a decade of experience in the digital asset sector, Ripple holds more than 60 regulatory licenses, including its DFSA license granted in March 2025.