Ripple has joined forces with Zand Bank and fintech platform Mamo to introduce blockchain-based payments to the UAE, with this being the company's first two customers in the country since obtaining a license from the Dubai Financial Services Authority (DFSA) in March 2025.
As the first blockchain-enabled payments provider licensed to operate in Dubai’s financial free zone, Ripple's DFSA approval allows it to offer fully compliant digital asset payment solutions. With this regulatory foundation in place, the company is rolling out its Ripple Payments platform in the UAE.
For those unfamiliar, the platform enables near-instant, low-cost cross-border transactions using digital assets like XRP and the company's new stablecoin, RLUSD.
With Ripple Payments, Zand Bank plans to expand its digital asset services as well as boost its international payment offerings. Similarly, Mamo, a growing fintech firm focused on businesses and consumers, joins Ripple’s network to improve speed, transparency and liquidity in cross-border money transfers, using the platform to help its users with global transactions.
To enable rapid settlement and lower costs, Ripple Payments uses XRP in select corridors. Accompanying this, Ripple has introduced RLUSD, a USD-backed stablecoin issued by its subsidiary, Standard Custody & Trust Company.
Already with $312.99 million in circulation, this stablecoin is designed for both compliance and liquidity, and it is thus well-suited for institutional use in cross-border transactions.
Ripple’s expansion into the UAE is strategic, given the country's position as a global payments hub and its clear regulatory approach. Currently covering over 90 payout markets and processing $70 billion in volume, with XRP and RLUSD forming a dual foundation for liquidity and settlement, it is clear that Ripple is well on its way to expanding its infrastructure for digital asset payments.
Vladislav Sopov
U.Today Editorial Team