Ripple (XRP) Takes the UAE by Storm with Partnerships with Zand Bank and Mamo!

Jakarta, Pintu News – Ripple is strengthening its dominance in the global payments world with a major expansion into the United Arab Emirates (UAE). After obtaining a full license from the Dubai Financial Services Authority (DFSA), Ripple immediately entered into strategic partnerships with two major local players: Zand Bank and fintech startup Mamo.

The move marks a major transformation in the way cross-border remittances are made, particularly in the Middle East region which is known as one of the global centers of fund transfers.

With blockchain technology-based solutions, Ripple brings high efficiency and transparency to a financial system that has been fraught with high costs and slow processes.

Exclusive License in Dubai: Ripple’s Strategic Leap

In March 2025, Ripple became the first blockchain-based payment company to successfully obtain an official license from the DFSA. This license gives Ripple full permission to manage the entire cross-border payment process for its clients, from start to finish. This means that money can be sent anytime, anywhere, and processed in just minutes thanks to blockchain technology.

With this license, Ripple strengthens its position as a legitimate and trusted provider of crypto and blockchain payment solutions in a region that has been known for strict financial regulations. According to Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, this new partnership is a result of the huge momentum created by Ripple’s official presence in Dubai.

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Strategic Collaboration with Zand Bank and Mamo

Zand Bank, which holds a full banking license in the UAE, became one of Ripple’s first partners in making cross-border digital payments a reality.

The bank is known for its digital-first approach and is now preparing to launch a UAE dirham (AED)-backed stablecoin. This move further strengthens Ripple’s position in building an integrated and efficient cryptocurrency ecosystem.

Meanwhile, Mamo, a rising fintech startup, has also joined the initiative. Mamo’s CEO and Co-Founder, Imad Gharazeddine, called this collaboration a big step towards accelerating international transactions for businesses and consumers in the UAE. With Ripple, Mamo can offer fast and reliable global payment solutions through blockchain infrastructure.

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Ripple Payments: The Future of Global Transactions

Ripple Payments leverages its blockchain network, digital assets, and global payment partners to provide fast and transparent cross-border remittance services.

The system is designed to help banks, fintech companies, and crypto businesses provide an efficient and compliant global payments infrastructure. To date, Ripple has operated in over 90 markets and processed more than Rp1,150 trillion ($70 billion) in transaction volume.

Ripple has more than 60 regulatory licenses in various countries, including in the US, Brazil, Mexico, Australia, and Switzerland. With Dubai included in Ripple’s list of operational regions, the potential for global expansion is even greater. According to the New Value 2025 Report, 64% of financial leaders in the Middle East want blockchain solutions to accelerate payments and settlements.

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Reference:

• CryptoNews. Ripple Taps Blockchain Payments in UAE with Zand Bank and Mamo. Accessed May 20, 2025.
• Featured Image: FXL Leaders