- Ripple Labs partners with Zand Bank and Mamo Pay to enhance cross-border payments in the UAE using blockchain technology.
- Zand Bank plans to launch an AED-pegged stablecoin for seamless transactions.
- Ripple Payments has processed $70B globally, positioning the company as a leading blockchain settlement provider worldwide.
By onboarding two new partners (Mamo, a fintech firm and Zand Bank), Ripple Labs has further expanded its presence in the UAE. Mamo is aiming to leverage Ripple’s cross-border payments platform.
Ripple Labs made the announcement in a recent press release, which boosts the company’s intention of deepening its footprint in the middle east region.
Ripple Labs’ Dubai Partnerships Will Improve Cross-Border Payments
After obtaining a license approval from the Dubai Financial Services Authority in March 2025, Ripple Labs became the first blockchain payment firm to receive such a license. With this license, the blockchain payment solutions can now operate in the Dubai International Financial Center.
Mamo and Zand Bank will use the Ripple Payments service, which ensures international transactions from their platforms are more transparent, faster, and cheaper. This solution uses cryptocurrencies and blockchain to achieve this purpose and has a network of payout partners worldwide.
The partnership is a sign that there’s need for more blockchain-enabled payments in the region since traditional financial companies and fintechs continue to struggle with settlement times and efficiency of service. In its official remarks, Zand Bank stated that the collaboration is part of its goal to provide virtual asset services and blockchain solutions at the institutional level.
This bank is the first fully digital one in the UAE with an operating license. The bank added that its next move is to launch a stablecoin pegged to the dirhams (AED), which will also boost the speed of all transactions on its network, whether local or international.
UAE Fintechs and Banks Turn to Blockchain for Faster, Simpler Payments
In its statement, consumer-focused fintech company Mamo said the agreement will help it achieve its goal of providing simpler payment solutions for individuals and businesses based in the UAE. On its own part, the formal association with these two companies aligns with Ripple’s strategic plans within the region.
Currently, the firm continues to meet with UAE officials regarding the integration of blockchain into the nation’s financial system. Ripple Labs has approvals from over 60 regulators globally, while its Ripple Payments service has handled up to $70 billion in transactions.
Hence, the business is gradually becoming the number one provider of blockchain-enabled financial settlements not just in the Middle East, but all over the world.
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