According to PANews, Ripple announced a partnership with UAE's Zand Bank and Mamo to connect to its blockchain-based cross-border payment solution. This marks Ripple's first major expansion after obtaining the DFSA payment license. With this system, customers can achieve 24/7 cross-border payments and settlements, improving efficiency and reducing costs. Zand Bank plans to launch a stablecoin pegged to the AED to enhance local digital payment capabilities. Ripple claims its payment network covers over 90 markets, with a cumulative processing volume exceeding $70 billion.
Ripple Partners with Zand Bank and Mamo to Promote Cross-Border Payments
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