Ripple is expanding its footprint in the Middle East with two major partnerships in the UAE. The blockchain payments firm announced that Zand Bank and Mamo are the first clients to adopt Ripple Payments under its new regulatory license from Dubai.
In March 2025, Ripple became the first blockchain-based payments company to receive a license from the Dubai Financial Services Authority (DFSA). With this approval in hand, Ripple is now teaming up with local partners to improve cross-border payments in the region.
The license gives Ripple the ability to handle the entire payment process for its clients, from start to finish, allowing money to move globally, around the clock, and settle within minutes.
Ripple Payments uses blockchain technology, digital assets, and a vast network of payout partners to offer fast, transparent, and reliable cross-border transactions. It supports banks, fintechs, and crypto firms looking for a compliant and efficient global payment infrastructure.
“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.
“Our new partnerships with Zand Bank and Mamo are testament to the momentum that the license has created for our business.”
Ripple is experiencing growing interest in the Middle East from both crypto firms and traditional banks. According to its 2025 New Value Report, 64% of finance leaders in the region want faster payments and settlements through blockchain.
Zand Bank, which holds a full banking license in the UAE, is focused on building digital-first financial products. “Our collaboration with Ripple highlights our commitment to empowering global payment solutions through blockchain technology,” said Chirag Sampat, Head of Treasury and Markets at Zand Bank. He added that the bank is also preparing to launch an AED-backed stablecoin to support seamless digital transactions.
Mamo, a growing fintech startup, is also aiming to simplify international payments for UAE-based businesses. “Our partnership with Ripple is a big step forward,” said Imad Gharazeddine, CEO and co-founder of Mamo. “It allows us to offer faster, more reliable cross-border payments for both businesses and consumers.”
Ripple’s global payments network spans 90+ markets and has processed over $70 billion in volume. The company now holds over 60 regulatory licenses, with Ripple Payments already active in the U.S., Brazil, Mexico, Australia, Switzerland, and now Dubai.
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