Ripple has significantly enhanced its presence in the United Arab Emirates by partnering with two new entities: Zand Bank and fintech firm Mamo, both of which will utilize Ripple’s blockchain-based cross-border payments platform. This strategic move aims to facilitate faster and more cost-effective international transfers using advanced blockchain technology.

According to a press release from Ripple, in March 2025, the company became the first blockchain-enabled payment firm to receive full licensing approval from the Dubai Financial Services Authority (DFSA). This licensing enables Ripple to operate within the Dubai International Financial Center, marking a pivotal step in its expansion efforts in the region.

Both Zand Bank and Mamo will implement Ripple Payments, which connects a global network of payout partners. This innovative solution utilizes blockchain and digital assets to improve the efficiency and transparency of cross-border transactions. The partnerships highlight an increasing trend in the UAE, as traditional financial institutions and fintech firms seek to optimize their payment processes and reduce settlement times.

Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, stated, “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.” He added that the partnerships with Zand Bank and Mamo reflect a strong demand for efficient, blockchain-based alternatives to traditional payment methods.

Zand Bank, recognized as the UAE’s first fully digital bank with a banking license, noted that this collaboration aligns with its goal to offer institutional-grade blockchain solutions and digital asset services. The bank also announced plans to launch a stablecoin backed by the UAE Dirham to enhance transaction speed for both domestic and international payments.

For Mamo, a consumer-focused fintech company, this collaboration supports its mission to simplify global payments for businesses and individuals in the UAE. Chief Executive Officer Imad Gharazeddine emphasized that Ripple’s blockchain-powered settlements will allow UAE businesses to expand internationally “with confidence.”

This expansion is part of Ripple’s broader strategic initiatives in the region. The company is actively engaging with UAE regulators on stablecoin policy and the integration of blockchain into the national financial infrastructure. Furthermore, Ripple is preparing for the launch of Hidden Road, a crypto brokerage it acquired for $1.25 billion in April, in Abu Dhabi.

Ripple has processed $70 billion in transactions through Ripple Payments and has obtained over 60 regulatory approvals globally. The company is positioning itself as a major infrastructure provider for blockchain-based financial services in the Middle East and beyond. Surveys conducted by Ripple indicate that more than 60 percent of finance leaders in the Middle East and Africa consider faster settlement to be a crucial factor in adopting blockchain technology for payments.