Ripple Secures DFSA License Expands Middle East Footprint with 64% of Financial Leaders Seeing Faster Settlement Times as Key

Ripple, a leading blockchain-based payment solutions provider, has expanded its footprint in the Middle East by securing a license from the Dubai Financial Services Authority (DFSA) and establishing strategic partnerships with two prominent financial institutions in the United Arab Emirates (UAE): Zand Bank and Mamo. This expansion underscores Ripple's dedication to enhancing cross-border payment solutions through blockchain technology in a region that is quickly adopting digital finance.

The DFSA license, obtained in March 2025, allows Ripple to offer comprehensive end-to-end payment solutions both within and outside the UAE. This includes managing the entire transaction lifecycle, from initiating transfers to final settlement, ensuring 24/7 global operations. Ripple is the first blockchain-enabled payments provider to receive such approval in the region, highlighting the UAE's supportive regulatory environment for fintech innovation.

With the DFSA license, Ripple has launched partnerships with Zand Bank and Mamo, two UAE-based financial institutions known for their investment in digital innovation. Both institutions will integrate Ripple Payments, Ripple’s core product, to power their cross-border operations. Ripple Payments utilizes blockchain technology, digital assets, and a wide network of payout partners to process fast, reliable, and transparent international payments. This infrastructure addresses many of the inefficiencies of traditional banking systems, such as high fees and long settlement times.

Reece Merrick, Managing Director of Ripple in the Middle East and Africa, emphasized the strategic importance of the region. "Securing our DFSA license enables Ripple to better serve the demand for solutions to the inefficiencies of traditional cross-border payments, such as high fees, long settlement times, and lack of transparency, in one of the world’s largest cross-border payments hubs," Merrick stated. "Our new partnerships with Zand Bank and Mamo are testament to the momentum that the license has created for our business."

The Middle East is rapidly adopting blockchain-based financial services, making it an ideal market for Ripple's solutions. According to Ripple’s 2025 New Value Report, 64% of financial leaders in the Middle East and Africa see faster settlement times as a key reason to use blockchain in cross-border payments. The region's high remittance volumes and growing digital economy make it a prime candidate for real-time, blockchain-driven payment solutions. Ripple’s infrastructure aims to deliver this with transactions settled in minutes, without the overhead and friction common in legacy banking systems.

Zand Bank, one of the UAE’s most forward-thinking institutions, combines traditional banking services with digital innovation. The bank offers institutional-grade asset custody, AI solutions, and now blockchain-powered payments through its partnership with Ripple. Chirag Sampat, Head of Treasury and Markets at Zand Bank, highlighted the importance of innovation in financial services. "Our collaboration with Ripple highlights our commitment to empowering global payment solutions through blockchain technology," Sampat said. "Moreover, we are excited to soon launch an AED-backed stablecoin, designed to further enhance seamless and efficient transactions in the rapidly evolving digital economy."

This upcoming stablecoin is expected to further enhance local settlement capabilities and add efficiency to UAE-based payment flows. It will also offer a trusted, fiat-backed on-ramp for businesses operating within the growing digital asset ecosystem.

Mamo, a Dubai-based fintech firm focused on user-friendly payment tools, has also integrated Ripple’s technology. The company aims to serve both consumers and small businesses looking for efficient cross-border transactions. With Ripple Payments, Mamo can now offer global transfers that are fast, secure, and transparent. The partnership allows Mamo to go beyond domestic services and serve clients worldwide, without the delays and high costs typically involved in sending money across borders.

Ripple’s blockchain architecture provides a level of transaction transparency not available in traditional systems. This is particularly valuable in regions where regulatory compliance and anti-money laundering (AML) enforcement are priorities. The global cross-border payments market is worth over $150 trillion and growing fast. In the Middle East, which handles billions in remittance and trade finance, the demand for efficient, low-cost payments is higher than ever. Legacy systems are increasingly unable to keep up with the demands of real-time commerce. Long delays, intermediary fees, and unclear transaction statuses frustrate both banks and end users. Ripple’s solution bypasses these problems by connecting payment corridors directly through its global blockchain network. In markets like the UAE—where digital transformation is a national priority—this offers a significant competitive advantage.