- Ripple secures DFSA license to expand blockchain payments in the UAE.
- Zand Bank to launch AED-backed stablecoin using Ripple’s technology.
- Mamo partners with Ripple to simplify cross-border payments in the UAE.
Ripple, a global company known for its blockchain-based financial services, has taken new steps to grow its business in the United Arab Emirates (UAE). Recently, Ripple partnered with Zand Bank and Mamo in the UAE. By partnering with Ripple, these countries want to boost the efficiency of sending and receiving payments between them. This news was shared via Ripple official X account.
Zand Bank to Launch AED-Backed Stablecoin Using Ripple
Ripple Payments transfers cash safely and fast through the use of blockchain. With this system, financial firms can transfer and receive money automatically any time and year-round. It can save you both time and money when sending money from your country to another.
In March 2025, Ripple was given permission by the Dubai Financial Services Authority (DFSA) to expand in the UAE. As a result of this license, Ripple is acknowledged as a blockchain payments service in Dubai.
After receiving the license, Ripple announced news of its agreements with Zand Bank and Mamo. As of now, these two companies have adopted Ripple’s payment solution to ensure their customers receive service more quickly and efficiently. The leaders of Ripple mentioned that being licensed by the DFSA has greatly contributed to their expansion in the region. According to them, the openness to digital development in the UAE has made it easier for Ripple to grow in that country.
Zand Bank is a modern digital bank, one of the new Ripple partners. The financial institution is planning to create a stablecoin tied to the AED to promote better digital payments. According to Zand Bank, using Ripple will assist them in introducing new technology in finance and helping the country work towards its digital economy aims.
Ripple Expands Reach with 60+ Licenses and $70B Transactions
Mamo is also partnering with Ripple to enhance its payment services locally. Mamo is designed to simplify cross-border payments for everyone, whether you are an individual or a business. Mamo’s co-founder commented that, with the UAE planning to have over a million businesses by 2030, companies like Mamo must provide secure and quick payment systems. He stated that working with Ripple will support them in reaching their objectives.
Ripple has been part of the financial technology industry for more than 10 years. It currently has more than 60 licenses in different countries. The company reports that it deals with over $70 billion in payments and offers services in over 90 different countries. As well as the United States, Brazil, Mexico, Australia, and Switzerland, the UAE is now joining this list.
Recently, Ripple released a report displaying that numerous leaders in the financial industry in the Middle East and Africa have expressed interest in adopting blockchain technology. On the other hand, a majority said that speed is the biggest factor driving them to consider blockchain for sending cross-border funds.
Overall, these developments indicate that Ripple is committed to increasing its presence in the United Arab Emirates. The help of both banks and fintech firms in the area allows Ripple to aim for faster, cheaper, and more secure payments between Qatar and the world.
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