Ripple expands its effectiveness in the Middle East by establishing a partnership with Zand Bank and Mamo in the UAE.
Ripple established strategic collaborations with BAE -based Zand Bank and Mamo in order to spread the Blockchain -based payment service in the Middle East.
Ripple announced two more new partnerships in the United Arab Emirates (UAE) within the scope of the Blockchain -based border payment solution to a global expansion strategy. According to the information transferred by Coindesk on May 19, 2025, Ripple signed official agreements with the UAE’s leading actors in the field of digital banking ** Zand Bank ** and Fintech ** Mamo **.
This development followed Ripple’s virtual asset license in March ** Dubai Financial Services Authority (DFSA) **. The undergraduate provided Ripple to provide cross -border payment services in the region. “These agreements are part of our commitment to provide safer and more efficient payment services to our customers,” Ripple Middle East and Africa General Manager Reece Merrick said.
Zand Bank plans to develop its own digital money strategy using Ripple Payments. Chirag Sampat, the President of the Bank’s Treasury and Markets, said, uz We aim to draw a stablecoin with AED in a short time. Ripple’s technology will accelerate it, ”he said. This description shows that the UAE has a more aggressive position in the field of CBDC and Stablecoin.
Imad Gharazydine, CEO of Mamo, fintech, emphasized that the cooperation with Ripple will both accelerate and reduce costs for individual users and SMEs.
As of today, Ripple Payments are operating in more than 90 countries and ** It draws attention among global payment systems with a volume of more than $ 70 billion **. Using the XRP as a bridge currency in some transactions, Fiat offers instant transformation between money. This makes Ripple much faster than SWIFT -like traditional systems.
However, despite these positive developments, XRP prices fell by 3.5 %in the last 24 hours. According to experts, this withdrawal may significantly increase the use of XRP in the medium-long term Ripple’s new agreements associated with general market conditions and Ripple’s new agreements.
Ripple’s expansion step in the UAE is not only a regional market strategy, but also an important part of ongoing transformation on global payment systems. Both the configuration with regulation and technological flexibility signals that Ripple will increase its institutional cooperation.
