May 20, 2025 – Dubai: Ripple has taken a major step toward cementing its footprint in the Middle East by launching cross-border crypto payment services in the United Arab Emirates. The US-based blockchain company has partnered with two prominent UAE financial institutions—Zand Bank and Mamo—to introduce Ripple Payments, an XRP-powered solution that streamlines international transactions.
Ripple Payments Now Live in the UAE
Announced via a blog post on May 19, Ripple revealed that this strategic collaboration will provide crypto on- and off-ramp services for banks, fintech firms, and crypto companies worldwide. The move is poised to enhance the speed, efficiency, and cost-effectiveness of cross-border payments, which have long been hampered by traditional systems plagued by high fees, slow settlement times, and lack of transparency.
Through this initiative, Zand Bank and Mamo customers will be able to leverage Ripple’s technology to send and receive payments globally using XRP, Ripple’s native cryptocurrency.
A Milestone Achieved Through Regulatory Progress
The expansion follows Ripple’s achievement earlier this year when it became the first blockchain payments provider licensed by the Dubai Financial Services Authority (DFSA) to operate within the Dubai International Financial Centre (DIFC). This regulatory milestone enabled Ripple to formalize its operations in one of the world’s most active cross-border transaction hubs.
Ripple’s Managing Director for the Middle East and Africa, Reece Merrick, emphasized the significance of the move:
“Securing our DFSA license enables Ripple to better serve the demand for solutions to the inefficiencies of traditional cross-border payments, especially in a region rapidly embracing institutional crypto adoption.”
Ripple’s Global Reach and Ambitions
Ripple claims its Ripple Payments service now spans over 90 payout markets, covering more than 90% of daily FX markets and processing over $70 billion in transaction volume. With over 60 regulatory licenses globally, Ripple has positioned itself as a major player in the blockchain-based remittance and payments industry.
This latest expansion aligns with Ripple’s broader ambition to lead the global digital payments landscape, with the Middle East and Africa (MEA) identified as key growth territories due to their proactive crypto regulatory stance.
Ongoing Ambitions: Eyeing Circle Acquisition
In parallel to its Middle East expansion, Ripple has reportedly made a $5 billion offer to acquire Circle, the issuer of the USDC stablecoin, in a bid to grow its stablecoin footprint. Although the offer was rejected as too low, Ripple is believed to still be considering a revised bid.
UAE’s Crypto Outlook: CBDC and Stablecoin Plans
The UAE continues to accelerate its blockchain agenda. The government is working on a central bank digital currency (CBDC) and exploring an AED-backed stablecoin, underscoring the nation’s intent to become a global leader in crypto innovation.
With Ripple now officially operating through regulated channels in the UAE, and partners like Zand Bank and Mamo on board, the region is set to become a pivotal node in the future of global crypto finance.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
