Dubai, May 19, 2025 – Ripple, the leading provider of digital asset infrastructure for financial institutions, has announced two new UAE-based clients leveraging its blockchain-powered cross-border payments solution: Zand Bank and Mamo. This milestone follows Ripple’s groundbreaking licensing by the Dubai Financial Services Authority (DFSA), enabling end-to-end payment management for customers in the region.
Key Highlights
- Ripple Payments combines blockchain, digital assets, and a global partner network to deliver fast, transparent cross-border transactions.
- DFSA License: Allows Ripple to settle payments in minutes, reducing friction for UAE-based businesses.
- Clients: Zand Bank (a digital-first bank) and Mamo (a payments platform) will integrate Ripple’s solution to enhance efficiency.
Why This Matters
The UAE’s progressive regulatory environment has positioned it as a hub for crypto innovation. Ripple’s DFSA license accelerates adoption of blockchain-enabled payments, addressing longstanding inefficiencies like high fees and slow settlement times in traditional systems.
"Our partnerships with Zand Bank and Mamo reflect the momentum from our DFSA license," said Reece Merrick, Ripple’s Managing Director for the Middle East and Africa. "The UAE’s leadership in crypto innovation is unlocking transformative potential for payments."
Market Demand and Strategic Partnerships
Growing Adoption in the Middle East
According to Ripple’s 2025 New Value Report, 64% of MEA finance leaders prioritize faster settlements as the top reason to adopt blockchain-based payments. Ripple’s solution now serves 90+ payout markets, processing over $70 billion annually.
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Partner Perspectives
Zand Bank
Chirag Sampat, Head of Treasury and Markets, highlighted:
"Our collaboration with Ripple underscores our commitment to blockchain-driven solutions. We’re also launching an AED-backed stablecoin to further streamline digital transactions."
Mamo
Imad Gharazeddine, CEO, added:
"Partnering with Ripple lets us offer faster cross-border payments, supporting UAE businesses as they scale globally."
FAQs
Q: What does Ripple’s DFSA license enable?
A: It allows Ripple to manage end-to-end payments in the UAE, ensuring 24/7 settlement in minutes.
Q: How does Ripple Payments work?
A: The solution uses blockchain and digital assets to facilitate fast, low-cost transfers through a global network of partners.
Q: Which regions does Ripple serve?
A: Licensed services are available in Dubai, the U.S., Brazil, Mexico, Australia, Switzerland, and more.
Ripple’s Regulatory Footprint
With 60+ global licenses, including the DFSA approval, Ripple combines compliance with innovation. The company’s decade-long expertise in digital assets ensures secure infrastructure for financial institutions.