Ripple: Further engagement in the emirates through cooperation with Zand Bank and Mamopay
- The United Arab Emirates are developing into the center of crypto economy in the Middle East, with Ripple securing its share in an international payment market.
- Cooperates for this purpose Ripple with Zand Bank and Mamopay to offer licensed blockchain payment services.
Ripple has extended his licensed cross -border payment services to the VAE and after approval by the DFSA (Dubai Financial Services Authority), a partnership with Zand Bank and Mamopay was received. The step introduces blockchain-enabled transfer options in one of the world’s leading finance hubs and will enable more efficient cross-border transfers.
Ripple Payments momentum is building in the UAE.
https://t.co/gFiwxXWfM5
Following our DFSA license, Zand Bank and @MamoPay are now live on Ripple Payments—bringing always-on, blockchain-powered cross-border payments to one of the world’s top remittance hubs.
— Ripple (@Ripple) May 19, 2025
Zand Bank and Mamopay are the first in the VAE financial institutions that will use Ripple Payments, the company’s blockchain-supported payment procedure. The introduction is followed by the Ripple in March, DFSA license, which allows its services within the Dubai International Financial Center to be offered. With this license, Ripple markets extensive payment services, including global money movements. The system processes transactions around the clock and within minutes, which previously avoided usual long delays, the transfer costs are reduced and transparency increased.
Zand Bank will Stablecoin
As part of your Cooperation With Ripple, Zand Bank confirmed that it would use the blockchain infrastructure to strengthen its digital payment services. The bank also wants to introduce a stable coin with the VAE-Dirham. This should improve the processing efficiency and expand the use of digital assets in the domestic market.
Chirag Sampat, Head of Treasury and Markets at Zand Bank, said that Bank is pursuing KI and blockchain tools as part of its wider strategy to support the developing financial landscape in the region. As soon as the StableCoin project has been implemented, it could offer a real-time alternative to the conventional transfer methods that take place on a fiat based.
Mamopay, a local fintech company that offers payment transactions for private and business customers, explained that his integration with Ripple will help to meet the growing demand for efficient transfer solutions in the VAE. According to the company, more than a million companies will probably work in the VAE by 2030, which is why access to faster international payments is becoming increasingly important.
CEO Imad Gharazeddine said the partnership aims to improve reliability and accessibility for users in all sectors. The FinTech company sees blockchain technology as essential for the modernization of financial services in a region that experiences a quick economic growth and diversification of the economy.
Crypto economy based on blockchains is growing in the Middle East
The expansion to the VAE shows the trend in the Middle East and Africa that institutions actively explore the blockchain infrastructure and its benefits. The 2025 New Value Report by Ripple notes that 64% of the financial managers in the region call speed and processing efficiency as reasons for the introduction of blockchain-based currencies.
In response to the great demand, Ripple expanded the reach of his services. The company now has more than 60 licenses and registrations worldwide and supports payment corridors in the USA, Brazil, Mexico, Switzerland and Australia, in addition to the newly licensed presence in Dubai.
As CNF reported, Ripple Payments currently offers access to over 90% of the global foreign exchange market. The regulatory environment and the financial infrastructure of the VAE have made it a strategic entry point for blockchain companies that want to serve regional and international markets. With Zand Bank and Mamopay, Ripple continues his efforts to bring regulated blockchain payment systems to the mainstream of financial services.
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