Ripple, the creator of the cryptocurrency XRP (XRP), has introduced cross-border blockchain payments in the United Arab Emirates (UAE), a move that could accelerate cryptocurrency adoption in a country open to digital assets. According to a Ripple announcement dated May 19, Zand Bank—the UAE’s first all-digital bank—and Mamo, a fintech firm offering a digital payment platform for businesses, will be the main users of this blockchain payments system. These institutions will utilize “Ripple Payments” to enable cross-border blockchain transactions. Ripple Payments is a platform that integrates stablecoins, cryptocurrency, and fiat currencies to facilitate payments with fast settlement times, a feature often lacking in traditional cross-border finance payment systems, and aligned with Web3 capabilities. Ripple received a license to provide crypto payment services from the Dubai Financial Services Authority (DFSA) in March. Reece Merrick, Ripple’s managing director for the Middle East and Africa, stated that obtaining this license “allows Ripple to better meet the demand for solutions addressing inefficiencies in traditional cross-border payments, such as high fees, lengthy settlement periods, and lack of transparency, within one of the globe’s key cross-border payment hubs. ” Related: Ripple partners with Chipper Cash to enable faster and more affordable remittances across Africa. UAE ranks 56th among 151 countries in crypto adoption Chainalysis, a blockchain analytics platform, ranked the UAE 56th out of 151 countries for cryptocurrency adoption in its 2024 report. The nation scored particularly well in areas such as decentralized finance, stablecoin utilization, and altcoin engagement. The UAE has undertaken several initiatives that could further boost its ranking.

Different emirates, including Abu Dhabi and Dubai, have worked to establish themselves as leading crypto hubs. In December 2024, Tether’s USDt (USDT) became officially recognized as a virtual asset in Abu Dhabi. Following that, in 2025, Circle’s USDC (USDC) and EURC were the first stablecoins to gain recognition under the emirate’s crypto token regulatory framework. Additionally, the UAE is moving forward with plans to launch a digital dirham, intended to function as a central bank digital currency (CBDC). On May 19, Dubai’s Virtual Assets Regulatory Authority (VARA) announced enhanced regulations for crypto asset operations, specifically targeting margin trading and token issuance. A 30-day transition period was established, requiring affected companies to comply with these new rules by June 19.

Ripple, the creator of cryptocurrency XRP, has launched cross-border blockchain payment services in the UAE to boost crypto adoption. Key users include Zand Bank, the UAE’s first fully digital bank, and fintech firm Mamo, both leveraging Ripple Payments—a platform that integrates stablecoins, cryptocurrencies, and fiat currencies for faster, more transparent settlements. This follows Ripple’s March acquisition of a crypto payments license from the Dubai Financial Services Authority. Reece Merrick, Ripple’s Middle East managing director, emphasized the platform’s ability to reduce high fees and slow processing typical of traditional cross-border transactions. Chainalysis’s 2024 report ranks the UAE 56th globally in crypto adoption, with strong growth in decentralized finance and stablecoins. The UAE is advancing its crypto ecosystem: Abu Dhabi recognizes stablecoins like USDT, USDC, and EURC, and is progressing on a digital dirham central bank digital currency. Dubai’s Virtual Assets Regulatory Authority introduced new rules on crypto margin trading and token distribution, effective June 19, reflecting increased regulatory oversight.

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