Ripple Advances UAE's Digital Payments Landscape Through Zand and Mamo Partnership
Ripple launches blockchain payment platform with Zand Bank and Mamo, transforming cross-border transactions in the UAE.
In a strategic move set to redefine the financial landscape of the United Arab Emirates, Ripple has officially partnered with Zand Bank and UAE-based fintech firm Mamo to launch its blockchain-powered payment platform. This collaboration, following Ripple’s regulatory approval from the Dubai Financial Services Authority (DFSA) in March 2025, underscores the growing convergence between traditional banking and decentralized finance in the Gulf region.
The Ripple Payments platform enables seamless and cost-effective cross-border transactions. Zand Bank, known for its progressive approach to digital banking, will now offer enhanced digital asset services, improving the efficiency and reach of its global payments infrastructure. "This partnership allows us to provide our customers with more efficient, transparent, and scalable cross-border payment options," a spokesperson for Zand commented.
Mamo, a rising fintech in the region catering to both individuals and businesses, will also leverage Ripple’s technology. The integration promises to expedite remittances and bolster transaction transparency—critical for a country with a large expatriate population and a growing digital economy.
Ripple Payments utilizes XRP in designated corridors to facilitate near-instant settlements with significantly lower transaction fees. Complementing this system is RLUSD, a USD-backed stablecoin issued by Ripple’s subsidiary, Standard Custody & Trust Company. With $312.99 million of RLUSD currently in circulation, this stablecoin enhances transaction speed and security across borders.
This venture also marks a broader shift in the UAE's regulatory stance. By becoming the first blockchain payment platform authorized within Dubai’s financial-free zone, Ripple sets a precedent for regulated digital asset services in a region known for pioneering financial innovation.
Ripple’s expansive network spans over 90 countries and supports an annual transaction volume of $70 billion. Its dual-asset system—XRP and RLUSD—positions it as a leader in modernizing international finance.
By joining forces with Zand and Mamo, Ripple not only cements its foothold in the Middle East but also accelerates the UAE's transition toward a more interconnected and digitally native financial system.
