Ripple Expands UAE Reach with with Zand Bank and Mamo Partnership

Ripple is deepening its presence in the Middle East with two new major clients in the UAE—Zand Bank and Mamo. These partnerships mark a strategic step in Ripple’s expansion, allowing the company to scale its blockchain-based payment solutions across a region that’s rapidly embracing digital finance.

Ripple’s Strategic Move into the UAE

The UAE has positioned itself as a global fintech and crypto hub. With clear regulatory frameworks and a welcoming environment for innovation, it has attracted major players in the blockchain space. 

Ripple is among the most notable entrants. The company recently secured a license from the Dubai Financial Services Authority (DFSA), making it the first blockchain-enabled payments provider to receive such approval.

This license, granted in March 2025, gives Ripple the ability to offer end-to-end payment solutions in and out of the UAE. It allows Ripple to manage the full transaction lifecycle—from initiating transfers to final settlement—offering 24/7 global operations.

Zand Bank and Mamo Adopt Ripple Payments

With the DFSA license in hand, Ripple is launching partnerships with Zand Bank and Mamo, two UAE-based financial institutions that are investing heavily in digital innovation. Both will integrate Ripple Payments, Ripple’s core product, to power their cross-border operations.

Ripple Payments uses blockchain technology, digital assets, and a wide network of payout partners to process fast, reliable, and transparent international payments. This infrastructure eliminates many of the inefficiencies of traditional banking systems, including high fees and long settlement times.

Reece Merrick, Managing Director of Ripple in the Middle East and Africa, noted the region’s potential. 

“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 said. “Our new partnerships with Zand Bank and Mamo are testament to the momentum that the license has created for our business.”

The Rise of Blockchain in the Middle East

Ripple’s entry comes at a time when the Middle East is rapidly adopting blockchain-based financial services. 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.

Zand Bank’s Vision for a Digital Future

Zand Bank is one of the UAE’s most forward-thinking institutions. Holding a full banking license, Zand combines traditional services with digital innovation. The bank offers institutional-grade asset custody, AI solutions, and now blockchain-powered payments through its Ripple partnership.

Chirag Sampat, Head of Treasury and Markets at Zand Bank, emphasized 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 Embraces Real-Time Crypto Infrastructure

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 also 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.

A Market Ready for Disruption

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 an edge.