Ripple Secures DFSA License, Partners with UAE Banks for Blockchain Payments

Coin WorldMonday, May 19, 2025 3:37 am ET
1min read

Ripple, a leader in digital asset infrastructure, has secured a license from the Dubai Financial Services Authority (DFSA) and has announced its first clients in the United Arab Emirates (UAE) for its blockchain-enabled cross-border payment solutions. The company has partnered with Zand Bank and

, leveraging its new DFSA license to offer end-to-end payment solutions that reduce transaction times and fees while increasing transparency. This initiative highlights the growing adoption of blockchain technology for financial transactions in the Middle East, aligning with the region's efforts to become a global hub for crypto innovation.

Ripple's partnership with Zand Bank and Mamo underscores the increasing acceptance of blockchain technology in the financial sector. By utilizing Ripple's solutions, these institutions can offer their customers faster, more cost-effective, and transparent cross-border payment services. This move is part of a broader trend in the Middle East, where governments and

are embracing blockchain to enhance their financial infrastructure and attract global investment.

The DFSA license obtained by Ripple is a significant milestone, as it allows the company to operate its payment solutions within the Dubai International Financial Centre (DIFC). This regulatory approval not only validates Ripple's technology but also positions the company as a key player in the region's financial ecosystem. The partnerships with Zand Bank and Mamo are expected to serve as a catalyst for further adoption of Ripple's solutions in the UAE and beyond.

The growing adoption of blockchain technology in the Middle East is part of a larger global trend towards digital transformation in the financial sector. As more institutions recognize the benefits of blockchain, including enhanced security, transparency, and efficiency, the demand for such solutions is likely to increase. Ripple's entry into the UAE market, facilitated by its DFSA license, is a strategic move that positions the company at the forefront of this technological revolution.

In summary, Ripple's announcement of its first UAE clients, Zand Bank and Mamo, following its DFSA license, marks a significant development in the adoption of blockchain technology for financial transactions in the Middle East. This initiative not only benefits the partnering institutions but also contributes to the region's goal of becoming a global hub for crypto innovation. As blockchain technology continues to gain traction, Ripple's solutions are poised to play a crucial role in shaping the future of cross-border payments.