Ripple Launches Cross-Border Payments in UAE, Partners with Zand Bank and Mamo

Ripple, the creator of the cryptocurrency XRP, has launched cross-border blockchain payments in the United Arab Emirates (UAE). This initiative is poised to accelerate the adoption of cryptocurrency in a region that is increasingly embracing digital assets. The launch involves two key partners: Zand Bank, the UAE’s first all-digital bank, and Mamo, a fintech company that provides a digital payment platform for businesses. These partners will utilize Ripple Payments, a platform that combines stablecoins, cryptocurrency, and fiat currency to facilitate payments and ensure quick settlement times, a feature often lacking in traditional cross-border payment systems.

Ripple Payments is designed to address the inefficiencies of traditional cross-border payments, such as high fees, long settlement times, and lack of transparency. Reece Merrick, Ripple’s managing director for the Middle East and Africa, emphasized that acquiring the license from the Dubai Financial Services Authority (DFSA) in March enables Ripple to better serve the demand for solutions to these issues in one of the world’s largest cross-border payments hubs.

The UAE has been proactive in fostering a crypto-friendly environment. Various emirates, including Abu Dhabi and Dubai, have been working to establish themselves as crypto hubs. In December 2024, Tether’s USDt (USDT) became an accepted virtual asset in Abu Dhabi. In 2025, Circle’s USDC (USDC) and EURC became the first stablecoins recognized under the emirate’s crypto token regime. The country is also planning to establish a digital dirham, which would be a central bank digital currency.

On May 19, Dubai’s Virtual Assets Regulatory Authority (VARA) announced enhanced oversight for crypto asset activities, specifically margin trading and token distribution. There will be a 30-day transition period, and affected companies will be expected to comply with the new rules by June 19. This regulatory framework is aimed at ensuring the safety and transparency of crypto transactions in the region.

Ripple’s expansion into the UAE is part of a broader strategy to enhance its global footprint. The company has been actively seeking partnerships and regulatory approvals to integrate its blockchain-based payment solutions in various regions. The collaboration with Zand Bank and Mamo is a significant step in this direction, as it allows Ripple to offer fully regulated payment services in Dubai. This move is expected to streamline cross-border payments for UAE customers, making the process more efficient and transparent.