Ripple Partners With Zand Bank and Mamo to Boost Fast Payments

• Ripple launches secure payments with UAE firms after receiving clearance in March.
• Zand Bank plans to support payments using Ripple and create a new stable digital coin.
• Mamo joins Ripple to provide simple cross-border services to businesses in the UAE.

Ripple has officially expanded its presence in the UAE by onboarding Zand Bank and Mamo as its first blockchain-powered payment clients. This move follows Ripple securing its DFSA license in March 2025, making it the first blockchain-enabled payments firm licensed by the Dubai Financial Services Authority. According to the company’s recent blog, the license enables Ripple to manage end-to-end cross-border payments 24/7, settling transactions in minutes and significantly reducing time, cost, and friction.

Ripple Leverages Regulatory Approval to Drive Blockchain Adoption

With regulatory approval now in place, Ripple said it has quickly launched partnerships with UAE-native financial institutions Zand Bank and Mamo. These firms will use Ripple Payments to facilitate global transactions powered by blockchain and digital asset infrastructure.

“Securing our DFSA license enables Ripple to better serve the demand for solutions to traditional cross-border payment inefficiencies,” said Reece Merrick, Managing Director, Middle East and Africa at Ripple.

One goal of Ripple is to deal with major challenges in the banking world: excessive fees, long delays in transactions, and insufficient transparency. Furthermore, Ripple serves over 90% of the world’s FX markets and has 90+ payout locations, handling over $70 billion in volume every year.

Financial Leaders Eye Faster Cross-Border Payment Solutions

Ripple’s 2025 New Value Report revealed that 64% of finance leaders in the Middle East and Africa seek faster payment and settlement systems. Consequently, blockchain technology is gaining traction among both traditional and crypto-native institutions in the region.

Zand Bank, a pioneering fully licensed digital bank, sees blockchain as key to future financial ecosystems. “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 also revealed that the bank is preparing to introduce an AED-backed stablecoin, aimed at driving more seamless and efficient transactions across the digital economy.

Related: Ripple, UAE Officials Talk Digital Payments & Innovation

Mamo Aims to Simplify Global Payments for UAE Businesses

In addition, fintech startup Mamo is helping the UAE’s business community simplify the process of making payments across borders. Over a million companies are expected to be in operation across the UAE by 2030.

“Our partnership with Ripple is a big step forward,” said Mamo CEO and co-founder Imad Gharazeddine. “It allows us to offer faster, more reliable cross-border payments for both businesses and consumers.”

Ripple and similar companies are able to expand with confidence thanks to the UAE’s helpful regulations on blockchain technology.

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