Ripple Expands UAE Presence with Zand Bank, Mamo Partnerships

Ripple, a prominent provider of digital asset infrastructure for financial institutions, has announced the addition of two new clients in the UAE: Zand Bank and Mamo. These clients will utilize Ripple Payments, a solution that leverages blockchain, digital assets, and a global network of payout partners to facilitate fast, transparent, and reliable cross-border payments and on/off ramps for banks, crypto companies, and fintechs worldwide.

Ripple's entry into the UAE market is significant as it is the first blockchain-enabled payments provider to be licensed by the Dubai Financial Services Authority (DFSA). This regulatory approval allows Ripple to manage payments end-to-end on behalf of its customers, enabling the movement of funds across the globe 24/7/365 and settling payments in a matter of minutes. This development dramatically enhances the efficiency of value transfer in and out of the UAE, addressing long-standing issues such as high fees, lengthy settlement times, and lack of transparency in traditional cross-border payments.

Reece Merrick, Managing Director for the Middle East and Africa at Ripple, highlighted the strategic importance of the DFSA license. He noted that it positions Ripple to better serve the growing demand for innovative cross-border payment solutions in one of the world's largest cross-border payments hubs. The partnerships with Zand Bank and Mamo underscore the momentum generated by the license, reflecting the UAE's supportive environment for crypto innovation and its potential to drive efficiency and innovation in payments.

Zand Bank, a pioneering financial institution with a full-fledged banking license, is committed to strengthening the digital economy by offering innovative financial products and AI and blockchain solutions. The collaboration with Ripple is a testament to Zand Bank's dedication to empowering global payment solutions through blockchain technology. Additionally, Zand Bank is excited to launch an AED-backed stablecoin, which will further enhance seamless and efficient transactions in the rapidly evolving digital economy.

Mamo, another key player in the UAE's financial landscape, is proud to be at the forefront of the region's growth, with over a million businesses expected to call it home by 2030. The partnership with Ripple allows Mamo to offer faster, more reliable cross-border payments for both businesses and consumers, helping companies across the UAE scale with confidence. This collaboration is a significant step forward in making global payments simpler and more accessible for everyone.

Ripple's digital asset infrastructure is designed to provide the core services that financial institutions need to tokenize, store, exchange, and move digital assets. With near-global coverage, including 90+ payout markets representing more than 90% coverage of the daily FX markets, Ripple Payments processes a substantial volume of transactions. The licensed payments solution is now available in key markets such as Dubai, the U.S., Brazil, Mexico, Australia, and Switzerland.

Ripple's extensive experience in the digital asset space, spanning over a decade, is supported by 60+ regulatory licenses and registrations in various jurisdictions, including its DFSA license, which was granted in March 2025. This regulatory framework ensures that Ripple's solutions are secure, compliant, and well-positioned to meet the evolving needs of the global financial community.