Ripple has partnered with Zand Bank and the fintech platform Mamo to launch blockchain-driven payment solutions in the UAE. This initiative marks Ripple’s inaugural collaboration with customers in the region following its licensing by the Dubai Financial Services Authority (DFSA) in March 2025.
Being the first provider of blockchain-based payment services licensed to operate within Dubai’s financial free zone, Ripple is set to implement its Ripple Payments platform in the UAE, thanks to the compliance framework provided by the DFSA.
For those new to the concept, this platform enables almost instantaneous and cost-efficient cross-border transactions using digital assets like XRP and Ripple’s newly launched stablecoin, RLUSD.
Exciting developments for Ripple Payments in the UAE! 🇦🇪 https://t.co/gFiwxXWfM5
Post our DFSA licensing, Zand Bank and @MamoPay are now operational on Ripple Payments—delivering constant, blockchain-enabled cross-border transactions to one of the leading remittance markets.
— Ripple (@Ripple) May 19, 2025
Zand Bank intends to leverage Ripple Payments to broaden its digital asset offerings and enhance its international payment capabilities. Similarly, Mamo, which caters to both businesses and consumers, harnesses Ripple’s network to boost speed, transparency, and liquidity in cross-border transactions.
To facilitate swift settlements and reduce transaction costs, Ripple Payments incorporates XRP in selected corridors. Additionally, it has rolled out RLUSD, a stablecoin tied to the US dollar issued by its affiliate, Standard Custody & Trust Company.
Currently, RLUSD has a circulation of $312.99 million, specifically crafted for regulatory compliance and liquidity, making it highly suitable for institutional cross-border transactions.
Ripple’s strategic move into the UAE underscores the nation’s role as a pivotal payments hub and its defined regulatory framework. Covering over 90 payout regions and handling a transaction volume of $70 billion, with XRP and RLUSD serving as a dual foundation for liquidity and settlement, Ripple is poised for significant growth in the digital asset payment infrastructure.