- Ripple Labs collaborates with Zand Bank and Mamo Pay to enhance cross-border payment capabilities in the UAE via blockchain technology.
- Zand Bank is set to introduce an AED-pegged stablecoin to facilitate smoother transactions.
- Ripple Payments has managed $70 billion in transactions worldwide, establishing itself as a premier blockchain settlement provider on a global scale.
By partnering with Mamo, a financial technology company, and Zand Bank, Ripple Labs is further extending its influence in the UAE. Mamo intends to utilize Ripple’s cross-border payments platform to enhance its service offerings.
This collaboration was revealed in a recent announcement, reinforcing Ripple’s commitment to expanding its presence in the Middle Eastern market.
Enhancing Cross-Border Payments through Dubai Partnerships
Following the receipt of regulatory approval from the Dubai Financial Services Authority in March 2025, Ripple Labs became the first blockchain payment entity to secure such a license. This authorization allows Ripple to operate within the Dubai International Financial Center.
Mamo and Zand Bank are set to utilize Ripple Payments services, which promise to deliver more efficient, speedy, and cost-effective international transactions from their platforms. This service employs cryptocurrencies and blockchain technology, supported by a vast network of global payout partners.
The partnership highlights the increasing demand for blockchain-integrated payment solutions in the region, as established financial institutions and fintech companies grapple with issues related to transaction times and service efficacy. Zand Bank noted that this alliance aligns with its ambition to offer virtual asset services and blockchain solutions on an institutional scale.
As the first fully digital bank in the UAE with an operational license, Zand Bank also announced plans to create a stablecoin backed by the dirham (AED), aimed at improving transaction speeds across its internal and international networks.
UAE Financial Institutions Embrace Blockchain for Enhanced Payment Solutions
Mamo, focusing on consumer needs, expressed that this partnership will aid in its mission to provide more straightforward payment solutions for both individuals and businesses within the UAE. The formal collaboration with these firms also aligns nicely with Ripple’s strategic objectives in the region.
Ripple Labs is actively engaging with UAE regulatory bodies to facilitate the adoption of blockchain technology within the nation’s financial systems. With approval from over 60 regulatory authorities globally, the Ripple Payments platform has successfully processed approximately $70 billion in transactions.
Consequently, Ripple is gradually establishing itself as the foremost provider of blockchain-based financial settlement solutions, not only across the Middle East but globally.