Ripple Builds Strength in the Middle East: Collaborates with Zand Bank and Mamo
Ripple has enhanced its footprint within the UAE by forming a significant alliance with two local organizations.
On 19 May 2025, the distributed record payment company declared that Zand Bank, the first fully licensed all-digital bank in the UAE, and Mamo, a fintech enterprise in the UAE offering digital payment services, have become the inaugural clients to implement Ripple Payments following the acquisition of its regulatory license from the Dubai Financial Services Authority (DFSA).
Zand Bank is poised to integrate Ripple’s technology into its digital asset offerings. Additionally, Chirag Sampat, Head of Treasury and Markets at Zand Bank, reaffirmed that the institution plans to introduce an AED-pegged stablecoin to enable more efficient transactions within the region.
Simultaneously, Mamo’s representatives indicated that they aim to facilitate international payments for local businesses and consumers through their collaboration with Ripple.
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Ripple Payments momentum is building in the UAE.
https://t.co/gFiwxXWfM5
After obtaining our DFSA license, Zand Bank and @MamoPay are now operational on Ripple Payments—delivering continuous, blockchain-enabled cross-border payments to one of the leading remittance hubs globally.
— Ripple (@Ripple) May 19, 2025
Ripple, which secured its license from the DFSA in March 2025, is now able to execute the complete payment process for its clients, enabling the uninterrupted global transfer of funds along with instant settlements.
“Acquiring our DFSA license empowers Ripple to more effectively address the market demand for solutions to the challenges of conventional cross-border payments, such as elevated fees, lengthy settlement durations, and insufficient transparency, in one of the globe’s largest cross-border payment markets,” stated Reece Merrick, Managing Director, Middle East and Africa, at Ripple.
He continued, “Our fresh partnerships with Zand Bank and Mamo underscore the growth that the license has catalyzed for our operations.”
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MEA Finance Leaders Focus on Distributed record for Accelerated Cross-Border Payments
Ripple has experienced heightened interest in its payment solutions within the Middle East from both crypto-native companies and traditional financial institutions. Moreover, with access to the UAE’s $400 billion trading market and $40 billion remittance industry, Ripple is positioned to gain even more influence in the area.
Significantly, Ripple’s integration of its Ripple USD (RLUSD) stablecoin has bolstered the reliability and adaptability of its inter-regional payment solution while also promoting a wider acceptance of the stablecoin.
According to Ripple’s 2025 New Value report, around 64% of leaders in the Middle East and Africa (MEA) region consider quicker payment and settlement times as the main factor driving the use of blockchain-based currencies in cross-border transactions.
Interestingly, the news of Ripple’s latest collaboration coincided with Ripple’s President, Monica Long, meeting with Ahmed bin Saeed, Chairman of the Emirates Group, at the 2025 Fintech Summit in Dubai to discuss ways to expand Ripple’s footprint in the region.
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Key Takeaways
- Ripple can execute complete payment processes for its clients, ensuring global fund movement continuously along with immediate settlement
- Zand Bank aims to introduce an AED-backed stablecoin
- 64% of MEA leaders see expedited payments as crucial for blockchain adoption in cross-border transactions
The post Ripple Gains Momentum in the Middle East: Partners with Zand Bank and Mamo appeared first on 99Bitcoins.
