Ripple Strengthens UAE Presence With New Partnerships

Ripple partners: Blockchain payment platform Ripple has announced that leading UAE financial platforms Zand Bank and Mamo Pay have adopted Ripple Payment, its blockchain-powered payment solution, to improve cross-border payments.

Why’s New Partnership Is Important for Ripple?

Ripple shared the announcement in a blog post on Monday, May 19. The partnership comes shortly after Ripple became the first blockchain-powered payment solution to receive a license from the Dubai Financial Services Authority (DFSA). The license allows the payment infrastructure provider to tap into market opportunities in the Middle East, as well as operate legally in the region.

Interestingly, the new license and partnerships with Zand Bank and Mamo Pay allow Ripple to provide round-the-clock payment services and handle payment processes on behalf of its customers in the UAE.

 Additionally, thanks to these local partners, Ripple says settlement time will be reduced to a few minutes, making it easier to move funds to and from the UAE.

Furthermore, partnering with Zand Bank and Mamo gives Ripple a stronger foothold in Dubai’s fast-evolving digital economy. These two platforms already have a solid presence in the UAE, making them natural allies for Ripple’s regional expansion. 

Notably, Zand Bank holds the record of being Dubai’s first fully licensed digital bank. The platform already serves as a bridge between TradFi and DeFi in the UAE, making it a good partner for Ripple’s solutions.

MamoPay, on the other hand, is already an established Dubai-based fintech that is making payments easier for businesses and individuals.

UAE Displays Huge Market Potential

The UAE currently plays a key role in the Middle East’s crypto space. Cities like Dubai are actively pushing crypto-friendly policies and launching innovation hubs. The country has attracted several crypto startups and global platforms looking to scale.

Additionally, crypto exchanges like Binance and OKX already have licenses to operate in Dubai, thanks to its forward-thinking measures. Dubai already launched crypto-friendly campaigns such as the Dubai Crypto Center.

Interestingly, crypto is not only growing at a corporate level in the Middle East; locals are showing strong interest in investing in the market. A recent eToro report found that 37% of retail investors plan to increase their crypto holdings in 2025. This figure is a notable jump of 42% compared to last year.

Meanwhile, Ripple’s latest New Value Report suggests that cross-border payments are a key factor behind the growth of digital assets in the UAE.

Ripple Continues Global Expansion

Ripple’s expansion is not limited to the UAE or the Middle East; the payment provider is scaling globally. Ripple also has a strong market presence in countries like the U.S., Switzerland, Australia, and Brazil.

Additionally, Ripple Pay, the platform’s payment solution, is nearing global coverage. Ripple Pay currently covers over 90+ payout markets. Plus, Ripple has over $70 billion in processed volume, making it a significant player in cross-border payments.

Ripple’s growth is supported by a robust compliance infrastructure. The payment platform has over 60 registrations and licenses globally. This enables it to serve both traditional institutions like banks and crypto-only businesses.

Also, the blockchain-powered platform covers everything from tokenization to real-time settlement. This versatility makes Ripple a good choice for both traditional and crypto businesses.

Demand for Cross-border Payments to Surge

Meanwhile, payment platforms are expected to play a major role in crypto adoption in the coming years. Crypto experts predict that cross-border payments will be a major springboard for blockchain adoption. 

Reports suggest that the UAE, for example, will have over a million businesses by 2030. This growth will create a strong demand for reliable global transactions.

Disclaimer: The content may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.