Ripple has announced new partnerships with UAE-based fintech firm Mamo and digital bank Zand, strengthening Ripple Payments’ presence in the Middle East’s growing blockchain ecosystem.
These partnerships follow Ripple’s achievement of becoming the first blockchain-enabled payments provider to be licensed by the Dubai Financial Services Authority (DFSA).
“As the global cross-border payments market grows, the leadership demonstrated by authorities in the UAE to create a supportive environment for crypto innovation has positioned the nation and its native companies to benefit from the transformative power of blockchain technology to drive efficiency and innovation in payments,” said Reece Merrick, managing director, Middle East and Africa, at Ripple.
Ripple reports an increasing demand for its payments solution across the Middle East from both traditional financial institutions and blockchain-focused companies.
According to Ripple’s 2025 New Value Report, 64% of Middle East and Africa finance leaders see faster payments and settlement times as the primary catalysts for incorporating blockchain-based currencies into their cross-border payment flows.
Moreover, 90% of global financial leaders believe that blockchain technology will have a significant or massive impact on finance in the next three years.
“Securing our DFSA license enables Ripple to better serve the demand for solutions to the inefficiencies of traditional cross-border payments, such as high fees, long settlement times, and lack of transparency, in one of the world’s largest cross-border payments hubs, ” Merrick added.
“Our new partnerships with Zand Bank and Mamo are testament to the momentum that the license has created for our business.”
