The move follows Ripple's receipt of a licence from the Dubai Financial Services Authority (DFSA), which allows the firm to offer digital asset services within the Dubai International Financial Centre (DIFC).
With the DFSA licence secured in March 2025, Ripple now has the regulatory clearance to operate its payments service in the UAE, allowing it to provide end-to-end cross-border transaction capabilities to local clients. The company’s infrastructure supports continuous global fund transfers and facilitates near-instant settlements.
Zand Bank, a digital bank operating with a full banking licence, is among the first institutions in the region to join Ripple's network. According to Zand Bank officials, the partnership supports their strategy to integrate technologies like blockchain and artificial intelligence into their financial offerings. The bank is also preparing to issue an AED-backed stablecoin intended to streamline digital transactions in the UAE.
Meanwhile, representatives from Mamo stated that their collaboration with Ripple is intended to support international payments for local enterprises and consumers. They noted that the UAE’s projected growth demands payment systems that are both scalable and accessible.
Ripple’s payments platform leverages blockchain and digital assets to facilitate international transactions. The company claims its solution can address several inefficiencies common in legacy systems, such as slow settlement speeds, high fees, and limited transparency.
The company currently operates its payment services across a number of markets, including the United States, Brazil, Mexico, Australia, Switzerland, and now Dubai.
Ripple officials cited growing demand from both crypto-native firms and traditional financial institutions in the Middle East. Findings from its internal 2025 New Value Report indicate that nearly two-thirds of financial leaders in the Middle East and Africa view faster settlement times as the main factor for integrating blockchain-based currencies into their cross-border payment operations.
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