Ripple has taken a significant step in expanding its operations across the Middle East by forming new partnerships with Zand Bank and fintech firm Mamo, both of which are set to adopt Ripple’s blockchain-driven cross-border payments platform. This development reflects a broader trend of increasing regional interest in blockchain solutions as financial institutions seek greater speed, transparency, and cost-efficiency in international transactions.
The announcement comes shortly after Ripple secured full licensing approval from the Dubai Financial Services Authority (DFSA) in March 2025, making it the first blockchain-enabled payments company to achieve this regulatory milestone within the Dubai International Financial Centre (DIFC). The license enables Ripple to oversee end-to-end payment operations within the UAE, facilitating global fund transfers with 24/7 availability and near-instant settlement capabilities.
Ripple’s leadership in the region has indicated that its latest partnerships with Zand and Mamo are in response to growing market demand for modern, blockchain-based alternatives to outdated financial infrastructures. The firm emphasized the need for solutions that can offer more efficient cross-border remittances and settlements.
Zand Bank, which is recognized as the UAE’s first fully digital bank operating with a full banking license, views this collaboration as aligned with its broader vision of delivering high-grade blockchain services and digital asset solutions to its clients. The bank is reportedly developing a stablecoin pegged to the UAE dirham (AED) to further accelerate domestic and international transactions. This move signals an intent to integrate digital currency into its banking model to boost operational efficiency.
Ripple Payments momentum is building in the UAE. 🇦🇪 https://t.co/gFiwxXWfM5
Following our DFSA license, Zand Bank and @MamoPay are now live on Ripple Payments—bringing always-on, blockchain-powered cross-border payments to one of the world’s top remittance hubs.
— Ripple (@Ripple) May 19, 2025
Meanwhile, Mamo—a UAE-based consumer-centric fintech firm—has joined hands with Ripple to simplify global payment processes for both businesses and individuals. The firm believes that blockchain-powered settlements will empower local businesses to explore international opportunities more confidently, thanks to faster and more reliable transaction methods.
Ripple’s expansion in the UAE also forms part of its broader strategy to influence the regional financial ecosystem. The company is said to be in active discussions with local regulators to shape policies related to stablecoins and to support the integration of blockchain within the national finance system. Additionally, Ripple is making preparations for the regional debut of Hidden Road, a crypto brokerage it acquired earlier this year for $1.25 billion, which will be launched in Abu Dhabi.
Globally, Ripple has processed over $70 billion in transactions through its Ripple Payments network and holds more than 60 regulatory approvals. This extensive regulatory footprint supports the company’s aim of becoming a foundational infrastructure provider for blockchain-based financial services in the Middle East and beyond.
Internal research by Ripple reportedly shows that over 60 percent of financial leaders across the Middle East and Africa region consider faster settlement to be a critical driver for adopting blockchain in payment systems. These findings reinforce the company’s regional momentum as it continues building partnerships that align with evolving market expectations and regulatory developments.
