Ripple has made a major strategic move in the Middle East, announcing new partnerships with two key financial players in the United Arab Emirates: Zand Bank and fintech startup Mamo. These institutions will integrate Ripple’s blockchain-based payments solution, Ripple Payments, into their platforms, bringing faster, more transparent, and cost-efficient cross-border transaction capabilities to their customers. The announcement follows Ripple’s recent approval from the Dubai Financial Services Authority, granting the company permission to provide end-to-end global payment services to banks, fintechs, and crypto firms across the region.
Zand Bank, recognized as the first fully licensed digital bank in the UAE, has signaled strong intentions to adopt blockchain and crypto-native infrastructure as a core part of its digital strategy. Through its collaboration with Ripple, Zand will leverage the XRP Ledger (XRPL) to build and offer new financial products, including plans to issue a stablecoin pegged to the UAE Dirham. This would mark a significant innovation for regional liquidity and settlement systems, enabling efficient domestic and international transactions without reliance on traditional intermediaries.
Mamo, a rapidly growing fintech that specializes in simplifying digital payments for businesses and consumers, is also embracing Ripple’s infrastructure. The integration is aimed at enhancing Mamo’s cross-border payment capabilities, reducing transaction friction, and broadening access to financial services for users looking to scale across the Middle East. The company’s leadership highlighted how Ripple’s blockchain-based rails will help Mamo serve the growing demand for reliable and near-instant settlements in a region increasingly defined by digital transformation.
The Middle East and North Africa are emerging as pivotal markets in the global blockchain ecosystem, with institutional demand rising for faster and cheaper payment mechanisms. According to Ripple’s internal research, more than 60% of financial leaders in the region consider speed and settlement time the top drivers for adopting crypto-based payment solutions. These latest partnerships not only reinforce Ripple’s momentum in the area but also exemplify the rising trust and demand for blockchain-powered financial infrastructure among banks and fintechs alike.
Ripple Payments, now active in over 90 markets and having processed more than $70 billion in global volume, continues to expand its network of partners who seek to modernize their payment rails. The integration of Zand Bank and Mamo into the XRPL ecosystem marks another important milestone, positioning Ripple as a key player in transforming how money moves across borders in the Gulf region and beyond. This expansion demonstrates how the convergence of regulation, innovation, and institutional interest is laying the foundation for the next generation of digital finance, with Ripple at the center of that evolution.
