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RIPPLE SIGNS TWO MORE PAYMENT SYSTEM CUSTOMERS IN #UAE EXPANSION
#Ripple said it signed on two new UAE-based customers, Zand Bank and Mamo, as it expands Ripple Payments, the firm’s blockchain-based cross-border payments platform, in the region.
The agreements follow Ripple securing a license from the #dubaifinanceserviceagency (DFSA) in March, allowing it to manage global payments end-to-end for banks, fintechs and crypto firms.
“Securing our DFSA license enables Ripple to better serve the demand for solutions to the inefficiencies of traditional cross-border payments,” Reece Merrick, managing director for Middle East and Africa at Ripple, said in a Monday release.
Zand Bank said the partnership aligns with its push toward digital finance. “We are excited to soon launch an AED-backed stablecoin,” said Chirag Sampat, head of treasury and markets.
Imad Gharazeddine, CEO and co-founder of Mamo, said using Ripple’s services allows the company to offer “faster and more reliable cross-border payments” for both businesses and consumers looking to scale their UAE operations.
Ripple Payments currently operates in over 90 payout markets and has processed more than $70 billion in volume globally. The platform is available in Dubai, the U.S., Brazil, Mexico, Australia and Switzerland.
Ripple uses a global network of payout partners and blockchain infrastructure to move money in minutes. In some cases, it also uses its native digital asset, XRP, as a bridge currency through its On-Demand Liquidity (ODL) service, allowing clients to instantly convert one fiat currency to another using the token.
#xrp prices are down 3.5% in the past 24 hours amid a broader market slump. The CoinDesk 20 Index has dropped 3.4%.
#BinanceAlphaAlert
#Ripple said it signed on two new UAE-based customers, Zand Bank and Mamo, as it expands Ripple Payments, the firm’s blockchain-based cross-border payments platform, in the region.
The agreements follow Ripple securing a license from the #dubaifinanceserviceagency (DFSA) in March, allowing it to manage global payments end-to-end for banks, fintechs and crypto firms.
“Securing our DFSA license enables Ripple to better serve the demand for solutions to the inefficiencies of traditional cross-border payments,” Reece Merrick, managing director for Middle East and Africa at Ripple, said in a Monday release.
Zand Bank said the partnership aligns with its push toward digital finance. “We are excited to soon launch an AED-backed stablecoin,” said Chirag Sampat, head of treasury and markets.
Imad Gharazeddine, CEO and co-founder of Mamo, said using Ripple’s services allows the company to offer “faster and more reliable cross-border payments” for both businesses and consumers looking to scale their UAE operations.
Ripple Payments currently operates in over 90 payout markets and has processed more than $70 billion in volume globally. The platform is available in Dubai, the U.S., Brazil, Mexico, Australia and Switzerland.
Ripple uses a global network of payout partners and blockchain infrastructure to move money in minutes. In some cases, it also uses its native digital asset, XRP, as a bridge currency through its On-Demand Liquidity (ODL) service, allowing clients to instantly convert one fiat currency to another using the token.
#xrp prices are down 3.5% in the past 24 hours amid a broader market slump. The CoinDesk 20 Index has dropped 3.4%.
#BinanceAlphaAlert
Bình Minh mới :
why is the price still down 😁
Big News in crypto industry :
Ripple has just secured a significant milestone - it's received a license from the Dubai Financial Services Authority (DFSA) to offer regulated crypto payments in the Dubai International Financial Centre (DIFC).¹ ² ³ This makes Ripple the first blockchain-enabled payments provider licensed by the DFSA, and it's a huge step forward for the company's expansion in the Middle East.
With this license, Ripple can now provide its seamless compliance-first global payments product to businesses in the UAE, reinforcing its role as a trusted partner for financial institutions looking to leverage digital assets. The UAE is a global hub for outbound finance, with a massive $400 billion market for international trade, and Ripple is well-positioned to tap into this market.⁴
This development is also a testament to Dubai's commitment to fostering innovation and creating a supportive environment for tech and crypto companies. As Brad Garlinghouse, CEO of Ripple, noted, "We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity around the world and increasing institutional adoption".
🚀Follow me guys! and let's grow together! 🚀
#MasterTheMarket
#MGXBinanceInvestment
#UkraineRussiaCeasefire
#MarketRebound
#dubaifinanceserviceagency
$XRP
$BTC
$BIO
Ripple has just secured a significant milestone - it's received a license from the Dubai Financial Services Authority (DFSA) to offer regulated crypto payments in the Dubai International Financial Centre (DIFC).¹ ² ³ This makes Ripple the first blockchain-enabled payments provider licensed by the DFSA, and it's a huge step forward for the company's expansion in the Middle East.
With this license, Ripple can now provide its seamless compliance-first global payments product to businesses in the UAE, reinforcing its role as a trusted partner for financial institutions looking to leverage digital assets. The UAE is a global hub for outbound finance, with a massive $400 billion market for international trade, and Ripple is well-positioned to tap into this market.⁴
This development is also a testament to Dubai's commitment to fostering innovation and creating a supportive environment for tech and crypto companies. As Brad Garlinghouse, CEO of Ripple, noted, "We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity around the world and increasing institutional adoption".
🚀Follow me guys! and let's grow together! 🚀
#MasterTheMarket
#MGXBinanceInvestment
#UkraineRussiaCeasefire
#MarketRebound
#dubaifinanceserviceagency
$XRP
$BTC
$BIO
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