Ripple Expands in UAE with Zand Bank and Mamo Partnerships

Ripple has strengthened its presence in the UAE by partnering with Zand Bank and fintech firm Mamo to enhance cross-border payment solutions using blockchain technology. This move is part of Ripple’s ongoing strategy to grow its footprint in the Middle East, a region increasingly embracing blockchain-powered financial services.

Ripple’s Licensing Milestone in Dubai

In March 2025, Ripple became the first blockchain-enabled payment company to secure full licensing approval from the Dubai Financial Services Authority (DFSA). This milestone allows Ripple to operate within the Dubai International Financial Center and manage payments end-to-end in the UAE, offering 24/7 global fund transfers with near-instant settlement.

New Partnerships Driving Blockchain Adoption

Zand Bank and Mamo will leverage Ripple Payments, a solution designed to connect a global network of payout partners. This platform uses blockchain and digital assets to facilitate faster, more cost-effective, and transparent international transfers, addressing inefficiencies in traditional payment systems.

Ripple’s Managing Director for the Middle East and Africa, Reece Merrick, emphasized the significance of these partnerships:

“Our partnerships with Zand and Mamo reflect the strong demand for efficient, blockchain-based alternatives to legacy payment rails.”

Zand Bank’s Blockchain Strategy

As the UAE’s first fully digital bank with a banking license, Zand Bank aims to offer institutional-grade blockchain solutions and digital asset services. The bank has announced plans to introduce a stablecoin backed by AED, further enhancing the speed and reliability of both domestic and international transactions.

Mamo’s Focus on Simplifying Payments

Mamo, a fintech company focused on consumer payments, aims to simplify global payment processes for UAE businesses and individuals. CEO Imad Gharazeddine highlighted the benefits of the partnership:

“Ripple’s blockchain-powered settlements will enable UAE businesses to grow internationally with confidence.”

Ripple’s Strategic Initiatives in the Middle East

This expansion aligns with Ripple’s broader regional strategy, including active discussions with UAE regulators on stablecoin policies and the integration of blockchain into the country’s financial infrastructure. Ripple is also preparing for the launch of Hidden Road, a crypto brokerage it acquired for $1.25 billion, in Abu Dhabi.

With $70 billion in transactions already processed through Ripple Payments and more than 60 regulatory approvals globally, Ripple is solidifying its role as a leading infrastructure provider for blockchain-based financial services.

Why Blockchain Payments Are Gaining Traction

According to Ripple’s surveys, over 60% of finance leaders in the Middle East and Africa (MEA) consider faster settlement times a key driver for blockchain adoption in payments. The growing demand for efficient, transparent, and cost-effective payment solutions is propelling the shift from traditional systems to blockchain technology.

Ripple’s partnerships with Zand Bank and Mamo highlight the increasing adoption of blockchain-powered payments in the UAE and the broader Middle East, paving the way for a more connected and efficient global financial ecosystem.

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