Ripple Expands Blockchain-Enabled Payments in UAE with Zand Bank and Mamo

This milestone follows Ripple’s recent licensing by the Dubai Financial Services Authority (DFSA), which marks Ripple as the first blockchain-enabled payments provider licensed in the region.

Ripple Payments leverages blockchain technology, digital assets, and a global network of payout partners to offer fast, transparent, and efficient cross-border payments for banks, crypto companies, and fintechs. Through this new partnership, Ripple is now positioned to manage end-to-end payments, providing seamless global transactions with faster settlement times.

New Partnerships Drive Efficiency in Payments

The integration of Ripple’s blockchain solution allows both Zand Bank and Mamo to utilize Ripple’s cross-border payments system, which promises to reduce friction and streamline transactions. Ripple’s technology can now settle payments in minutes, offering a more efficient and transparent method of moving value in and out of the UAE.

Reece Merrick, Ripple’s Managing Director for Middle East and Africa, highlighted the importance of Ripple’s DFSA license, stating that it helps address inefficiencies in traditional cross-border payments, such as high fees and lengthy settlement times. “Our new partnerships with Zand Bank and Mamo showcase the momentum we’ve gained through this license and the demand for faster, more reliable payments solutions,” Merrick said.

Zand Bank and Mamo Join Ripple in Boosting the UAE’s Digital Economy

Zand Bank, a pioneering institution with a full banking license, is leading the way in the UAE’s digital economy. Chirag Sampat, Head of Treasury and Markets at Zand Bank, emphasized the bank’s commitment to innovation and blockchain, noting their upcoming launch of an AED-backed stablecoin to facilitate even more efficient transactions.

Mamo, another key partner, is committed to simplifying global payments for businesses and consumers. CEO Imad Gharazeddine spoke on how their collaboration with Ripple will help them offer faster and more reliable cross-border payment solutions, enabling UAE businesses to scale confidently.

Ripple’s Growing Influence in the Middle East

Ripple is witnessing an increasing demand for its blockchain-based payments solution across the Middle East, particularly among crypto-native firms and traditional financial institutions. According to Ripple’s 2025 New Value Report, 64% of finance leaders in the Middle East and Africa (MEA) see faster payments and settlement times as key drivers for adopting blockchain currencies in cross-border payments.

Ripple’s Global Expansion and Compliance

Ripple’s payments solution is now licensed in multiple jurisdictions, including Dubai, the U.S., Brazil, Mexico, Australia, and Switzerland. With over a decade of experience in the digital asset space and 60+ regulatory licenses, Ripple is well-equipped to meet the needs of financial institutions seeking to tokenize, store, exchange, and move digital assets securely.

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