Key Highlights:
- Ripple has onboarded Zand Bank and Mamo as its initial clients in the UAE for its blockchain-based payment solution.
- $70 billion in global transaction volume processed via Ripple Payments, now licensed by the DFSA in Dubai.
- UAE reinforces its position as a hub for cryptocurrency payments, with Ripple facilitating real-time settlement alongside AED-backed stablecoin integration.
Ripple is making a significant move in the Middle East by announcing the launch of its services with two new institutional partners—Zand Bank and Mamo—now utilizing Ripple’s blockchain-based payment systems in the UAE. This development follows the company receiving a license from Dubai’s financial regulator, signifying a deeper engagement with cryptocurrency finance in a region known for its vibrant payment activities.
Ripple’s Launch in the UAE: Rapid and Clear Blockchain Transactions
Ripple, well-known for its enterprise-grade blockchain technology, has officially launched its payment services in the United Arab Emirates. In March 2025, the Dubai Financial Services Authority (DFSA) granted the necessary approvals, marking a pivotal advancement in regulatory measures. Ripple is now recognized as the first blockchain-based payment platform in the region to secure such accreditation.
With the DFSA license, Ripple can deliver comprehensive payment solutions, allowing it to manage transactions entirely through blockchain, cryptocurrency, and fiat channels. Clients can access these services around the clock, with settlements being processed in minutes rather than days—an important upgrade from traditional methods.
As worldwide cryptocurrency adoption continues to rise, particularly in fintech and emerging markets, Ripple’s entrance into the UAE mirrors the region’s transition towards a more efficient, cost-effective, and transparent financial infrastructure. The UAE is projected to host over a million businesses by 2030, many of which will require effective cross-border payment options.
Zand Bank and Mamo Connect to Ripple’s Blockchain Framework
Acceleration of Institutional and Fintech Engagement
The two new Ripple partners in the UAE contribute unique strengths to the ecosystem:
- Zand Bank, a fully licensed digital banking institution, will implement Ripple’s technology to enhance its international payment framework and support upcoming blockchain initiatives, including an AED-backed stablecoin. This stablecoin is anticipated to facilitate seamless and instantaneous transfers both domestically and internationally, catering to institutional and retail clients.
- Mamo, a prominent fintech company in the UAE, seeks to streamline global transactions for individual users and small enterprises. Through its alliance with Ripple, Mamo aims to provide fast and dependable cross-border transfers to its customers—critical as demand for international transactions grows in the region.
Both institutions emphasized Ripple’s capability to address common issues associated with traditional payment methods: exorbitant fees, delays, and payment opacity. As per Ripple’s 2025 New Value Report, 64% of financial leaders in the Middle East and Africa pinpoint quicker payments as the primary motivation for shifting to blockchain-based currency systems.
Ripple Payments: Global Reach and Volume
Ripple Payments has evolved beyond a niche instrument for cryptocurrency firms into a worldwide network processing over $70 billion in transaction volume, spanning more than 90 payout markets and covering upwards of 90% of the daily foreign exchange market.
Ripple’s framework is designed for scalability. Besides Dubai, Ripple’s licensed payment services are operational in key economies including:
- United States
- Mexico
- Brazil
- Australia
- Switzerland
With over 60 regulatory approvals globally, Ripple has demonstrated its capability to navigate the intricate regulatory landscape—a prerequisite for institutional adoption of cryptocurrency.
As central banks, digital-first banks, and fintech companies converge in the UAE’s favorable crypto environment, Ripple’s timing aligns perfectly. Its combination of instantaneous settlements, regulatory compliance, and extensive geographic reach positions it at the leading edge of blockchain-enabled finance within the region.