Ripple has officially launched blockchain-powered cross-border payments in the United Arab Emirates through partnerships with Zand Bank and fintech platform Mamo. This marks Ripple’s first operational deployment in the region since receiving its Dubai Financial Services Authority (DFSA) license in March 2025.
The collaboration leverages Ripple Payments to enable real-time settlement using a combination of XRP, stablecoins, and fiat currencies. This addresses longstanding pain points in traditional correspondent banking, where transactions often take 3-5 business days to clear.
Despite the strategic expansion, XRP’s price declined 4.2% following the announcement, continuing its 12-month underperformance compared to other major cryptocurrencies according to market data.
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Ripple’s Strategic Middle Eastern Expansion
The DFSA license allows Ripple to offer regulated digital asset services across the UAE’s financial free zones. Managing Director Reece Merrick stated this positions the company to capture market share in a corridor handling $78 billion in annual remittances.
Ripple’s technology stack now processes payments in three formats:
- XRP-powered liquidity solutions
- USDC stablecoin settlements
- Direct fiat currency transactions
Zand Bank’s Digital-First Approach
As the UAE’s first fully digital bank, Zand will integrate RippleNet to enhance its corporate banking services. The partnership enables:
- 24/7 payment processing
- Sub-90 second transaction finality
- 60% cost reduction compared to SWIFT transfers
Mamo’s Fintech Innovation
The Abu Dhabi-based payment platform will utilize Ripple’s CBDC interoperability framework to bridge traditional and blockchain-based finance. Mamo’s CEO revealed plans to process 500,000 transactions monthly through the integration by Q4 2025.
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Market analysts remain divided on XRP’s prospects despite Ripple’s institutional progress. The token continues facing headwinds from its ongoing SEC lawsuit and concentrated whale holdings controlling 42% of circulating supply according to recent chain analysis.
