Ripple has expanded its presence in the UAE by signing strategic agreements with Zand Bank and fintech company Mamo, both of which will adopt Ripple’s blockchain-powered cross-border payments platform.
This development follows Ripple’s milestone achievement in March of this year when it became the first blockchain-based payments firm to receive full regulatory approval from the Dubai Financial Services Authority (DFSA). The license allows Ripple to operate within the Dubai International Financial Centre (DIFC), further embedding the company in the region’s financial ecosystem.
Zand Bank and Mamo will integrate Ripple Payments, a solution designed to connect global payout partners using blockchain technology and digital assets. The platform promises quicker, more affordable, and transparent international money transfers.
Gulf Economist Staff Writer