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Ripple has partnered with UAE-based firms Zand Bank and Mamo to use its Ripple Payments technology. In an official announcement, the company described the move as building on momentum after securing its license from the Dubai Financial Services Authority (DFSA). The San Francisco-based fintech became the first blockchain-enabled payment provider in the United Arab Emirates in March and has been onboarding local firms to use its payment solutions. According to the firm, the new partnerships highlight how important securing the license is for its business. Zand Bank is an AI-powered neobank offering crypto custody services and plans to launch an AED-backed stablecoin. On its part, Mamo is a payment software company focused on businesses and corporate entities. Ripple Managing director for Middle East and Africa, Recce Merrick, noted that the DFSA License allows Ripple to meet customers’ demand more efficiently and allows UAE companies to enjoy blockchain-based cross-border payment solutions with none of the cons of traditional payments. He said: “As the global cross-border payments market grows, the leadership demonstrated by authorities in the UAE to create a supportive environment for crypto innovation has positioned the nation and its native companies to benefit from the transformative power of blockchain technology.” The firm added that demand for its payment solutions has increased in the Middle East, with both traditional and crypto-native firms showing interest. Ripple cited its 2025 New Value Report, which shows that 64% of finance leaders in Africa and the Middle East consider speed the key reason for adopting blockchain technology for their cross-border payments. Ripple expands as a blockchain payments and infrastructure company Meanwhile, onboarding two new clients in the UAE is only part of Ripple’s expansion efforts. The firm is positioning itself as a blockchain payments and infrastructure company, boasting over 60 regulatory licenses worldwide. The company…

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Filed under: News - @ May 19, 2025 10:23 am