Cross-border finance in the UAE is being transformed by Ripple, with real-time blockchain-based payments being enabled shortly after groundbreaking regulatory approval was secured. Partnerships with Zand and Mamo have been launched as part of this expansion.
Ripple Payments Secures Key Entry into UAE Through Zand and Mamo Integration
It was announced by Ripple on May 19 that Zand Bank and Mamo have become the initial customers in the United Arab Emirates (UAE) to implement Ripple Payments, the company’s blockchain-powered payments platform. This development follows the granting of a regulatory license by the Dubai Financial Services Authority (DFSA) in March 2025, positioning Ripple as the first blockchain-based payments provider to receive such authorization in the region. The company stated:
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.
With the integration of its newly acquired regulatory license and blockchain infrastructure, Ripple is now positioned to deliver comprehensive cross-border payment solutions. According to Ripple, this capability—enabled through the DFSA license—allows the company to oversee payments from start to finish on behalf of its clients, transferring funds globally around the clock, every day of the year, and settling transactions within minutes. This advancement is expected to significantly minimize delays and reduce friction, thereby enhancing the efficiency of value transfers into and out of the UAE.
Ripple’s growth across the Middle East and Africa is being accelerated through increased regulatory clarity in the UAE and collaborations with local financial institutions.
According to Reece Merrick, Ripple’s managing director for the region, the license granted by the Dubai Financial Services Authority has equipped the company to more effectively tackle the inefficiencies associated with conventional cross-border payment systems.
The partnership with Ripple was described by Chirag Sampat, head of treasury and markets at Zand Bank, as a component of the bank’s broader strategy for digital innovation, with intentions also noted to introduce a stablecoin backed by the AED.
The integration was also highlighted by fintech company Mamo, with CEO and co-founder Imad Gharazeddine stating that the collaboration would improve the speed and reliability of cross-border transactions for both individual users and businesses.
