Ripple, the leading enterprise blockchain solution for global payments, today announced two major milestones in its Middle East expansion with new Ripple Payments integrations at Zand Bank and Mamo Pay. These partnerships, detailed in today’s announcement, demonstrate growing institutional demand for blockchain-powered cross-border payment solutions in one of the world’s most dynamic financial corridors.
Ripple Payments: Building on regulatory momentum
The collaborations follow Ripple’s landmark achievement in March 2025, when Ripple Payments became the first blockchain-enabled solution licensed by the Dubai Financial Services Authority (DFSA). This regulatory approval has opened new opportunities for financial innovation across the UAE.
“With our DFSA license secured, we’re seeing unprecedented interest from regional institutions seeking modern payment infrastructure,” said Reece Merrick, Ripple’s Managing Director for Middle East and Africa. “Zand Bank and Mamo represent exactly the type of forward-thinking partners that will drive Ripple Payments adoption across the Middle East.”
Transforming the UAE’s financial market
Zand Bank, the UAE‘s first digital commercial bank, will leverage Ripple Payments to enhance its digital asset offerings, including plans for an AED-backed stablecoin. Meanwhile, Mamo Pay, a rising fintech star, will integrate the solution to power faster, more affordable cross-border transactions for SMEs and consumers.
These implementations highlight three key advantages of Ripple Payments:
Speed: Transactions settle in minutes rather than days
Cost: Up to 60% cheaper than traditional correspondent banking
Transparency: Real-time tracking of payment status
Meeting regional demand
The partnerships address specific market needs identified in Ripple’s 2025 New Value Report, where 64% of MEA finance leaders cited faster settlement times as their primary motivation for adopting blockchain solutions.
Chirag Sampat, Head of Treasury and Markets at Zand Bank, noted:
“Our work with Ripple Payments aligns perfectly with our mission to deliver next-generation financial services. The technology’s ability to move value across borders seamlessly will be transformative for our corporate clients.”
The official Ripple Payments UAE expansion post. Credit:Ripple
A growing network of partners
With these additions, Ripple Payments now serves financial institutions across six key markets:
United Arab Emirates
United States
Brazil
Mexico
Australia
Switzerland
The solution’s near-global coverage includes 90+ payout markets representing over 90% of daily FX volume, processing more than $70 billion annually.
The future of UAE payments
Imad Gharazeddine, CEO of Mamo Pay, emphasized how the collaboration will benefit UAE businesses:
“By integrating Ripple Payments, we’re removing traditional barriers to global commerce. This is particularly valuable for the UAE’s thriving SME sector and growing freelance economy.”
Looking ahead, Ripple plans to deepen its Middle East presence with:
New regional compliance operations in Dubai
Enhanced localization features for Arabic-speaking users
Additional partnerships with local payment systems
A decade of blockchain leadership
These developments build on Ripple’s 10+ years of experience in digital assets and its portfolio of 60+ global licenses. The company’s regulatory-first approach has made Ripple Payments the preferred blockchain solution for institutional clients worldwide.
As Merrick concluded,
“The UAE is demonstrating how thoughtful regulation can foster innovation. With Ripple Payments, Zand Bank and Mamo are positioned to lead the region’s transition to efficient, transparent cross-border payments.”
A new chapter for UAE finance – built for real people
Behind the technical achievements and billion-dollar transaction volumes, today’s announcements tell a simpler story: sending money across borders is about to get easier for everyone in the UAE.
The construction worker sending wages home to Pakistan. The startup paying a remote developer in Egypt. The small business importing goods from China. These are the people who will feel the real impact of Ripple Payments through faster transfers, lower fees, and fewer anxious days waiting for payments to clear.
As Mamo Pay’s Imad Gharazeddine put it:
“This isn’t just about moving money faster – it’s about giving people back their time and peace of mind. When a payment arrives in minutes instead of days, that’s less stress for families and more opportunities for businesses to grow.”
Jeremiah Musa lives and breathes storytelling. For over 12 years, he's chased breaking news, crafted hard-hitting features, and built content strategies that cut through the noise. These days, you'll find him leading the charge at The Bit Gazette, where he oversees a team of writers digging into the biggest stories in crypto.
Based in Dubai's fast-moving fintech scene, Jeremiah has a knack for translating complex blockchain concepts into sharp, engaging content. He's just as comfortable breaking down a Bitcoin whitepaper as he is explaining market moves to newcomers. Before diving into crypto, he cut his teeth in traditional financial journalism, covering everything from emerging markets to regulatory shakeups.
What keeps him up at night? Finding the human angle in every tech story. When he's not editing copy or prepping PR campaigns, he's probably arguing about the future of Web3 over karak chai or hunting down Dubai's best shawarma.
