Ripple expands in UAE as Zand Bank and Mamo adopt Ripple Payments

On May 19, 2025, in Dubai, Ripple announced new partnerships with Zand Bank and Mamo in the United Arab Emirates. Both institutions will adopt Ripple Payments, Ripple’s blockchain-based cross-border payment solution. This follows Ripple becoming the first blockchain payments provider licensed by the Dubai Financial Services Authority (DFSA).

Zand Bank also revealed plans to launch a stablecoin backed by the UAE dirham (AED), while Mamo aims to simplify global payments for both businesses and consumers across the UAE. Ripple now covers over 90 global payout markets, has processed more than $70 billion in transaction volume, and holds over 60 regulatory licenses worldwide.