Leading blockchain-based payment solutions provider Ripple has said strategic alliances with Zand Bank and Mamo, significantly broadening its capabilities in the Middle East and North Africa (MENA) area. This development tracks Ripple’s recent Dubai Financial Services Authority (DFSA) certification to provide regulated bitcoin payment services in the United Arab Emirates (UAE).

In March 2025, Ripple became the first blockchain-enabled payments provider licensed by the DFSA; hence, it could run within the Dubai International Financial Centre (DIFC). With this approval, Ripple can offer its payment choices throughout the UAE, a land known for its progressive attitude to digital assets and financial technology.

Underlining the significance of this milestone, Ripple CEO Brad Garlinghouse said, “Thanks to its early leadership in creating a supportive environment for tech and crypto innovation, the UAE is exceptionally well-placed to benefit.”

Expanding on its regulatory clearance, Ripple has teamed with Zand Bank and Mamo to improve cross-border payment options in the United Arab Emirates. First completely licensed all-digital bank in the UAE, Zand Bank seeks to use Ripple’s technologies to offer quick and reasonably priced cross-border transactions.

Commenting on the alliance, Head of Treasury and Markets at Zand Bank, Chirag Sampat, underlined the bank’s dedication to creativity and the possibility of blockchain technology to transform financial services.

Additionally, joining Ripple’s network is Mamo, a fintech firm aimed at streamlining consumer and corporate payments. The cooperation seeks to simplify foreign payments, therefore providing Mamo’s customers with quicker and more dependable services.

With its large expatriate population and heavy remittances, the MENA area offers special difficulties for cross-border transfers, including exorbitant fees and delayed settlement periods. With its open and effective payment systems, Ripple’s blockchain products seek to solve these problems.

Faster payments and settlement times are seen as the main value proposition of including blockchain-based currencies into their cross-border payment systems, according to Ripple’s 2024 business survey, 64% of Middle East and African financial leaders.

Having handled more than $70 billion in volume worldwide, Zand Bank and Mamo help Ripple maintain its presence in over 90 markets. The company’s growth into the UAE fits its approach of working with forward-looking financial institutions and fintech startups all around.

“Our new partnerships with Zand Bank and Mamo are testimonial to the momentum the license has created for our business,” said Reece Merrick, Managing Director for the Middle East and Africa at Ripple.

Ripple’s partnerships with Zand Bank and Mamo mark a progress in the acceptance of blockchain technology in mainstream financial services as the UAE keeps positioning itself as a center for digital innovation. Along with improving Ripple’s local service offerings, these alliances help to further the more general objective of upgrading payment systems to satisfy the needs of a fast-changing digital economy.