$XRP has officially launched its cross-border blockchain payment services in the United Arab Emirates, marking a significant step in expanding crypto-powered financial solutions in the Middle East.
Announced on May 19, the new service — Ripple Payments — will be deployed by Zand Bank, the UAE’s first all-digital bank, and fintech platform Mamo. The platform integrates stablecoins, cryptocurrencies, and fiat currencies to offer faster, more transparent international payments compared to traditional systems.
Ripple’s entry into the UAE follows its recent licensing by the Dubai Financial Services Authority (DFSA), which allows the company to provide crypto payment services in Dubai’s financial free zones.
Reece Merrick, Ripple’s managing director for the Middle East and Africa, said the region is “one of the world’s largest cross-border payments hubs,” and Ripple’s solution addresses key inefficiencies such as high fees, long settlement times, and a lack of transparency.
The UAE continues to embrace digital finance innovation. In recent years, it has introduced crypto-friendly regulations, accepted major stablecoins like USDT and USDC in Abu Dhabi, and announced plans to launch a central bank digital currency.
As the country pushes to become a leading crypto hub, Ripple’s deployment could accelerate the adoption of blockchain in regional banking and fintech sectors.
