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Ripple’s Bold Move: UAE Banks Embrace Blockchain for Faster Payments – See How!

BBG News

Ah, but what a day for Ripple, as it struts into the UAE with the grace of a peacock, freshly licensed by the Dubai Financial Services Authority (DFSA), becoming the first blockchain-enabled payments provider in the region. Who could have predicted such a thrilling spectacle?

Now, Ripple Payments doesn’t just “leverage” blockchain technology—it dances with it, using digital assets and a vast network of payout partners to offer cross-border payments that are as fast as a caffeinated rabbit, transparent like the finest glass, and efficient enough to make a Swiss watch jealous. With this new partnership, Ripple has positioned itself as the ringmaster of end-to-end payments, offering global transactions so seamless you’ll wonder if magic is involved.

Partnerships That Shake the Payments World

The integration of Ripple’s blockchain solution has Zand Bank and Mamo all but rolling in excitement as they now get to use Ripple’s world-renowned cross-border payments system. The promise? To reduce friction and streamline transactions, because who doesn’t want less of the nasty stuff that bogs us down? Ripple’s technology can now settle payments in a matter of minutes, making transactions in and out of the UAE feel like a breeze—if that breeze was carrying a ton of efficiency.

Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, had some enlightening words about the DFSA license. He talked about how it addresses the inefficiencies in traditional payments (those high fees and eternally long settlement times). “Our new partnerships with Zand Bank and Mamo showcase the momentum we’ve gained through this license,” Merrick says, probably while sipping an overpriced coffee. He’s not wrong though, as faster and more reliable payments are clearly in demand.

Zand Bank and Mamo: The UAE’s Dynamic Duo

Zand Bank—no stranger to leading the charge in the UAE’s digital economy—has made it clear that it’s all about innovation. Chirag Sampat, Head of Treasury and Markets at Zand Bank, speaks with the confidence of someone who knows they’re onto something big. He even teased the upcoming launch of an AED-backed stablecoin, as if to say, “We’re just getting started here, folks.” Mamo, meanwhile, is also stepping up to the plate, committed to making cross-border payments easier than getting a coffee in the morning. CEO Imad Gharazeddine explains that their collaboration with Ripple will help UAE businesses scale without breaking a sweat. How lovely.

Ripple’s Ever-Growing Influence in the Middle East

Ripple is gaining momentum across the Middle East like a snowball of digital disruption—particularly among crypto-native firms and the more conservative, traditional financial institutions. According to Ripple’s 2025 New Value Report (because of course they have one), 64% of finance leaders in the Middle East and Africa are already on board with the idea that faster payments are the future. Faster settlement times? Yes, please. It seems everyone wants a piece of the blockchain pie now, and Ripple’s got the recipe.

Ripple’s Global Footprint: Not Just a UAE Affair

And just in case you were wondering if Ripple was done, think again. This payment solution juggernaut is licensed in more places than you can shake a stick at: Dubai, the U.S., Brazil, Mexico, Australia, and Switzerland, to name a few. With over a decade of digital asset expertise and more than 60 regulatory licenses, Ripple is more than prepared to help financial institutions tokenize, store, exchange, and move digital assets. It’s as if Ripple’s got a globally approved pass to conquer the world of finance. Don’t say they didn’t warn you.

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2025-05-19 12:14

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