Ripple, a prominent provider of digital asset infrastructure for financial institutions, has announced new partnerships with Zand Bank and Mamo in the UAE. These collaborations will leverage Ripple Payments, a solution employing blockchain technology to facilitate fast, transparent, and reliable cross-border payments. Ripple Payments caters to banks, crypto companies, and fintechs worldwide, offering efficient on and off ramps.

Following the acquisition of a license from the Dubai Financial Services Authority (DFSA) in March 2025, Ripple is now authorized to manage payments end-to-end on behalf of its customers. This capability ensures the seamless movement of funds globally, operating 24/7 and settling payments within minutes, significantly reducing transaction times and enhancing efficiency for value transfers into and out of the UAE.

Reece Merrick, Managing Director for the Middle East and Africa at Ripple, emphasized that the DFSA license enables Ripple to address inefficiencies in traditional cross-border payments, such as high fees and extended settlement times. The partnerships with Zand Bank and Mamo underscore the increasing demand for innovative payment solutions in one of the world's largest cross-border payment hubs.

Ripple is experiencing heightened demand for its payment solutions across the Middle East, attracting both crypto-native firms and traditional financial institutions seeking to integrate blockchain technology. Ripple’s 2025 New Value Report indicates that 64% of finance leaders in the Middle East and Africa prioritize faster payment and settlement times as key drivers for adopting blockchain-based currencies.

Chirag Sampat, Head of Treasury and Markets at Zand Bank, highlighted the bank's commitment to bolstering the digital economy through innovative financial products and blockchain solutions. Zand Bank also plans to launch an AED-backed stablecoin to streamline transactions in the evolving digital landscape.

Imad Gharazeddine, CEO and co-founder of Mamo, expressed enthusiasm about contributing to the UAE’s growth by simplifying global payments. The partnership with Ripple marks a significant advancement in providing faster and more reliable cross-border payment options for businesses and consumers.

Ripple Payments supports extensive financial services, processing over $70 billion in transaction volume and covering more than 90% of the daily foreign exchange markets. With over a decade of experience in the digital asset sector, Ripple holds more than 60 regulatory licenses, including the DFSA license obtained in March 2025.

Zand Bank, licensed by the Central Bank of the UAE, is an AI-powered bank supporting the digital economy by bridging traditional finance (TradFi) and decentralized finance (DeFi). Mamo, a UAE-based fintech company, automates payment collection and corporate expense management through a single platform and holds a Category 3C Providing Money Services license from the DFSA.