Ripple was expanding its influence in the Middle East by announcing two important cooperation agreements with Zand Bank and Mamo in the United Arab Emirates. Under the new regulatory licence issued by the Dubai Financial Services Authority (DFSA), these companies became the first clients to adopt the Ripple payment solution.
In March 2025, Ripple became the first block-chain-based payment company licensed by DFSA. With this approval, Ripple is working with local partners to improve cross-border payment services in the region. The licence gives Ripple the ability to handle the entire payment process, allowing funds to move around the world around the clock and to be settled within minutes.
Faster and more transparent trade through block chain technology
Ripple Payments provides rapid, transparent and reliable cross-border transactional services using block-chain technology, digital assets and an extensive network of payment partners. It supports banks, financial technology companies and encrypted money companies in their search for a regulatory and efficient global payment infrastructure.
"Reece Merrick, Managing Director, Ripple Middle East and Africa, stated that `to obtain a DFSA licence would enable Ripple to better meet the need for traditional cross-border payments of inefficient solutions, such as high costs, long settlements and lack of transparency, one of the world's largest cross-border payment hubs'. He added: “Our new cooperation with Zand Bank and Mamo is evidence of the impetus that permits give to our business.”
Commitments of partners and prospects for the future
Zand Bank holds a comprehensive banking licence for the United Arab Emirates, focusing on the construction of digitized priority financial products. Chirag Sampat, head of the Bank's financial market, said: “Our cooperation with Ripple highlights our commitment to promoting global payment solutions through block-chain technology”. He also mentioned that the Bank was preparing to introduce stabilization currency supported by AED to support seamless digital transactions.
As a fast-growing financial technology start-up enterprise, Mamo also aims to simplify the process of international payments by businesses based in the Emirates. Imad Gharazeddine, CEO and co-founder of Mamo, says:
“Our cooperation with Ripple is a major step forward, which allows us to provide faster and more reliable cross-border payment services to businesses and consumers.”