Ripple announced a partnership with two financial institutions based in Dubai, Zand Bank and Mamo. Collaboration will allow them to take advantage of Ripple’s cross -border payment technology.
This marks the major expansion of the company in the region, where efforts to adopt blockchain technology increase to fuel economic development.
How Ripple’s technology revolutionizes payments in Dubai
According to the official press release, the company of Zand Bank and the Fintech of Artificial Intelligence (AI) and the company Fintech Mamo will use undulation payments. This solution powered by blockchain facilitates cross -border transactions 24/7. By rationalizing the settlement processes, it is designed to improve efficiency and speed.
Ripple Payments offers an almost global range, with access to more than 90 payment markets worldwide. The platform manages more than $ 70 billion in volume of transactions per year, highlighting its scalability and reliability.
“As a pioneering financial institution with a full -fledged banking license, Zand Bank opens the way to a stronger digital economy by offering innovative financial products as well as AI and Blockchain solutions alongside our digital childcare commitment.
Zand Bank, the first digital bank of the United Arab Emirates, also revealed plans to launch a stablecoin fixed to the United Arab Emirates (AED). This initiative aims to strengthen local digital payment capacities, offering a stable and effective transaction medium within the growing digital economy of water.
Mamo, a fintech company focused on the simplification of payments for businesses and consumers, will also benefit from Ripple technology to extend its service offers.
“The United Arab Emirates are on an incredible path of growth, with more than a million companies that should call it by 2030. At Mamo, we are proud to be at the forefront of this trip, which makes world payments simpler and more accessible to all,” said Mamo CEO, Imad Gharazddine.
In particular, Ripple’s partnership is based on its previous strategic decision to obtain a license from the Dubai Financial Services Authority (DFSA). The approval of March 2025 allows the company to offer cryptographic payment services within the Dubai International Finance Center (DIFC).
This regulatory step completes Ripple’s existing imprint on the main markets, including the United States, Brazil, Mexico, Australia and Switzerland. With more than 60 regulatory licenses and registrations worldwide, Ripple continues to strengthen its position as a trusted partner for financial institutions.
Despite its global expansion, Ripple faces continuous challenges. Last week, judge Analisa Torres rejected a joint request from Ripple and the American Commission for Securities and Exchange (SEC) in their long -standing legal dispute, citing procedural problems.
It also had an impact on the price of XRP. During last week, Altcoin dropped by 4.4%.
In addition, Beincrypto data showed that value decreased by 3.2% in the last day. At the time of writing the editorial staff, XRP’s negotiation price was $ 2.3.
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