- Ripple partners with Zand Bank and Mamo to expand cross-border payments in the UAE.
- The DFSA license allows Ripple to offer 24/7 cross-border payments with faster settlements.
- Zand Bank and Mamo leverage Ripple’s blockchain technology to streamline global payments.
Ripple has partnered with Zand Bank and Mamo in the United Arab Emirates. The new alliance enables Ripple to expand its global reach for cross-border payments. Ripple Payments uses blockchain technology and digital assets to ensure quick, safe, and clear cross-border transactions. This solution benefits banks, crypto companies, and fintech all around the globe.
In March 2025, the Dubai Financial Services Authority (DFSA) authorized the platform with a license, becoming the first payment provider to obtain this certification. The platform can now offer all the necessary services to clients, enabling payments around the globe. Using Ripple, users can send money anywhere in the world, and these transactions are settled quickly and efficiently.
Zand Bank and Mamo Integrate Ripple’s Technology
Zand Bank and Mamo have signed up to use Ripple’s cross-border payment technology. Because of its DFSA license, Ripple ensures smooth cross-border transactions for these institutions. It also smooths the transaction process and enables easy and clear money transfers for UAE-based companies.
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Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, emphasized that the DFSA license provides significant advantages for the company. The supportive environment for cryptocurrency innovation in the UAE was also said to have contributed to Ripple’s achievements. He stated:
“Our new partnerships with Zand Bank and Mamo are testament to the momentum that the license has created for our business.”
Zand Bank and Mamo Empower UAE’s Digital Payment Future
Zand Bank contributes significantly to the UAE’s digital economy. Head of Treasury and Markets at Zand Bank, Chirag Sampat, expressed his delight about the collaboration. He mentioned that Zand Bank offers new financial options based on AI and blockchain technology. An AED-backed stablecoin will soon be launched to simplify payment transactions further.
Mamo is currently looking to enhance international payment services. Imad Gharazeddine, Mamo’s CEO, believes the UAE is on the path to significant growth. He added that the partnership allows businesses from the UAE to make and receive fast and reliable payments across borders.
Middle East’s Growing Demand for Blockchain Payments
Crypto and traditional banks in the Middle East are showing more interest in Ripple’s payment solutions. The 2025 New Value Report revealed that 64% of leaders in the finance industry in the region are focused on quicker settlements and payments. This growing demand suggests that more people are interested in blockchain-based currency for transfers across countries.
The payment system built by Ripple is available in more than 90 countries and handles over $70 billion each year. Ripple has been around for over a decade and has received more than 60 licenses from regulators.
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