Ripple Scores Two New Payment Deals in UAE Expansion Drive

Ripple Labs has turned its focus to the United Arab Emirates (UAE) as it continues to push for expansion in the region. Ripple says it is collaborating with two UAE-based financial institutions to use its payment system in the area. Zand Bank and Mamo Join Ripple’s Blockchain Payment Network This development comes as Ripple seeks to maximize the license obtained from the Dubai Financial Services Authority (DFSA). The cross-border payment services company has now inked a deal with Zand Bank and Mamo. The partnership will see the financial institutions integrate Ripple’s blockchain-powered international payment solutions into their own systems. This will allow Zand Bank and Mamo to provide their customers with seamless global transfers around the clock. Notably, with Ripple, customers would no longer experience delays and could complete transactions in minutes. It aims to eliminate the complexities of traditional global fund transactions by leveraging blockchain infrastructure. Reece Merrick, Ripple’s Managing Director, Middle East and Africa region, emphasized that the license made the partnership possible. Merrick maintained that Ripple is set to provide solutions to the inefficient traditional cross-border payment system in the UAE. According to Merrick, this new partnership deal would eliminate issues of high fees, lack of transparency, and long settlement times. Ripple’s UAE Push Aligns with Stablecoin Momentum This development could signal further crypto adoption in the region, as it opens the cryptocurrency industry’s world of possibilities to users in the UAE. Chirag Sampat. Zand Bank, the head of Treasury and Markets, expressed excitement about collaborating with Ripple. He hinted at plans to launch a Dirham-backed stablecoin that could further enhance smooth transactions in the UAE, which is fast developing into a digital hub. Recently, the UAE made history with the launch of the first crypto-friendly gas station , which allows customers to pay for gas using digital currency. In April 2025, three financial giants, including the Abu Dhabi sovereign wealth fund, First Abu Dhabi Bank, and Conglomerate IHC, revealed plans to launch a Dirham-backed stablecoin. Ripple Push for Global Reach Interestingly, the UAE is not the only beneficiary of Ripple payment services. Ripple Labs operates in about 90 different markets and services firms in Mexico, Brazil, Australia, and even the United States of America. In the first quarter of this year, Ripple partnered with Unicambio as it made inroads into the Portuguese market. The post Ripple Scores Two New Payment Deals in UAE Expansion Drive appeared first on TheCoinrise.com .

Source: The Coin Rise