Ripple Launches Blockchain Payments in UAE, Partners with Zand Bank and Mamo

Ripple has officially launched its blockchain-powered cross-border payment solution in the UAE, marking a significant milestone in the region's financial technology landscape. The company secured a key license from the Dubai Financial Services Authority (DFSA) and announced that Zand Bank and Mamo are now live on Ripple Payments. This development underscores the UAE's growing status as a hub for digital finance and positions Ripple as a leader in delivering 24/7, transparent, and fast global payments through a secure blockchain network.

The UAE is rapidly emerging as a center for digital finance, and Ripple's entry into the market is well-timed. With over a decade of experience in digital asset infrastructure, Ripple is now offering real-time cross-border payments in the region. The DFSA license, awarded in March 2025, enables Ripple to manage transactions end-to-end, including sending and settling payments globally in just minutes. This innovation removes traditional barriers such as high fees, long delays, and lack of clarity.

Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, highlighted the significance of this license, stating that it allows Ripple to serve UAE users effectively. The launch of Zand Bank and Mamo on Ripple Payments is a clear indication of the growing momentum in the region. Zand Bank, the UAE’s first fully digital bank with a commercial license, is at the forefront of this innovation. The bank is committed to rethinking global money movement, making it seamless, secure, and efficient. As part of its broader strategy, Zand Bank is preparing to introduce an AED-backed stablecoin to support real-time transactions and digital settlement, further strengthening its commitment to blockchain and AI-powered financial tools.

Chirag Sampat, Head of Treasury and Markets at Zand Bank, emphasized the value of the partnership with Ripple, noting that it allows the bank to offer smarter global payment solutions to its clients. This collaboration aligns with the bank's mission to move money at the speed of business. Mamo, a homegrown fintech startup in the UAE, has also gone live on Ripple Payments. Focusing on small businesses and individual users, Mamo is leveraging Ripple’s infrastructure to facilitate faster and more accessible cross-border transfers. This integration is expected to help local entrepreneurs scale confidently, both within the region and globally. Imad Gharazeddine, CEO and co-founder of Mamo, stated that the company is building for the next million businesses that will call the UAE home, and Ripple helps deliver global payments that are as easy as local ones. This move supports the UAE’s ambition to lead in digital payments, with Mamo now offering seamless money movement across borders.

With Ripple Payments now active in over 90 markets, covering more than 90% of the daily foreign exchange volume worldwide, the company has processed over $70 billion through its network, serving traditional banks and crypto-native firms. The UAE joins a list of countries where Ripple Payments is already operational, including the U.S., Brazil, Australia, Mexico, and Switzerland. A recent Ripple report revealed that 64% of finance leaders in the Middle East and Africa see faster payments as a priority. Ripple Payments, now live in the UAE, is delivering exactly that. The launch of Ripple Payments in the UAE is more than just a product launch; it signals the direction of global finance. With Zand Bank and Mamo on board, Ripple is reshaping how money moves across borders: instantly, securely, and without friction. The UAE is quickly becoming a global leader in digital finance, and Ripple is helping to power that journey.