Ripple is revolutionizing cross-border finance in the UAE, launching with Zand and Mamo just months after securing groundbreaking regulatory approval, unleashing real-time blockchain-powered payments.
Ripple Payments Gains First Major Foothold in UAE with Zand and Mamo Integration
Ripple announced on May 19 that Zand Bank and Mamo have become the first customers in the United Arab Emirates (UAE) to adopt its blockchain-based payments platform, Ripple Payments. The announcement follows the company’s receipt of a regulatory license from the Dubai Financial Services Authority (DFSA) in March 2025, which made Ripple the first blockchain-enabled payments provider to gain such approval in the region. The company described:
Since becoming the first blockchain-enabled payments provider to be licensed by the Dubai Financial Services Authority (DFSA), Ripple has established partnerships with Zand Bank and Mamo who will utilize Ripple’s blockchain-enabled cross-border payments solution.
By combining its new regulatory status with blockchain infrastructure, Ripple is now equipped to facilitate cross-border payments with end-to-end capabilities. “This functionality, paired with the new DFSA license, enables Ripple to manage payments end-to-end on behalf of its customers, moving funds across the globe 24/7/365, and settling payments in a matter of minutes – reducing time and friction, and making the movement of value in and out of the UAE dramatically more efficient,” Ripple detailed.
Ripple’s expansion in the Middle East and Africa is gaining momentum with support from regulatory clarity in the UAE and partnerships with regional financial firms. Reece Merrick, Ripple’s managing director for the region, said the company’s license from the Dubai Financial Services Authority enables it to better address inefficiencies in traditional cross-border payments.
Zand Bank’s head of treasury and markets, Chirag Sampat, described the bank’s alliance with Ripple as part of its broader digital innovation strategy and noted plans to launch an AED-backed stablecoin. Fintech firm Mamo also emphasized the benefits of the integration. CEO and co-founder Imad Gharazeddine said the partnership will enhance the speed and reliability of cross-border payments for both businesses and consumers. Ripple Payments now operates in more than 90 payout markets and has processed over $70 billion in global transaction volume.
