Ripple Gains Momentum in the Middle East: Partners with Zand Bank and Mamo
Ripple has strengthened its presence in the UAE region with a major partnership involving two local entities.
On 19 May 2025, the blockchain payment firm announced that Zand Bank, the UAE’s first fully licensed all-digital bank, and Mamo, a UAE-based fintech company that provides digital payment solutions, have become its first clients to adopt Ripple Payments post the company receiving its regulatory license from the Dubai Financial Services Authority (DFSA).
Zand Bank is set to incorporate Ripple’s technology into its digital asset services. Furthermore, Chirag Sampat, Head of Treasury and Markets at Zand Bank, iterated that the company plans to launch an AED-backed stablecoin to facilitate smoother transactions in the region.
Meanwhile, representatives of Mamo stated that they intend to support international payments, local enterprises and consumers via their collaboration with Ripple.
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Ripple Payments momentum is building in the UAE.
https://t.co/gFiwxXWfM5
Following our DFSA license, Zand Bank and @MamoPay are now live on Ripple Payments—bringing always-on, blockchain-powered cross-border payments to one of the world’s top remittance hubs.
— Ripple (@Ripple) May 19, 2025
Ripple, which received its license from the DFSA in March 2025, can now manoeuvre the end-to-end payment process for its clients, allowing global movement of funds ceaselessly along with instant settlement.
“Securing our DFSA license enables Ripple to better serve the demand for solutions to the inefficiencies of traditional cross-border payments, such as high fees, long settlement times, and lack of transparency, in one of the world’s largest cross-border payments hubs,” said Reece Merrick, Managing Director, Middle East and Africa, at Ripple.
He added, “Our new partnerships with Zand Bank and Mamo are testament to the momentum that the license has created for our business.”
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MEA Finance Leaders Prioritise Blockchain for Faster Cross-Border Payments
Ripple has witnessed an increased demand for its payment solutions in the Middle East from crypto-native firms as well as traditional financial institutions. Additionally, with access to the UAE’s $400 billion market and $40 billion remittance sector, Ripple is set to further gain traction in the region.
Notably, Ripple’s integration of its Ripple USD (RLUSD) stablecoin has enhanced the credibility and versatility of its inter-regional payment solution while also driving greater adoption of the stablecoin.
According to Ripple’s 2025 New Value report, approximately 64% of the leaders in the Middle East and Africa (MEA) region view faster payment and settlement times as the primary driver for incorporating blockchain-based currencies into cross-border transactions.
Interestingly, Ripple’s latest partnership announcement coincides with Ripple’s President, Monica Long, recently meeting Ahmed bin Saeed, Chairman of the Emirates Group, at the 2025 Fintech Summit in Dubai to explore opportunities to expand Ripple’s presence in the region.
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Key Takeaways
- Ripple can manoeuvre end-to-end payment processes for its clients, allowing global movement of funds ceaselessly along with instant settlement
- Zand Bank wants to launch an AED-backed stablecoin
- 64% of MEA leaders see faster payments as key to blockchain adoption in cross-border transactions
The post Ripple Gains Momentum in the Middle East: Partners with Zand Bank and Mamo appeared first on 99Bitcoins.
