The Ripple cross-border payment solution is gaining massive traction in the Persian Gulf, with two new companies adopting the blockchain-based technology.
According to a statement released Monday, two new United Arab Emirates-based (UAE) firms have adopted the Ripple Payments solution. Ripple, a prominent US-based financial technology firm, announced a partnership with Zand Bank and Mamo to expand its grip on the UAE market.
New Partnerships for Ripple Payments
Notably, Ripple’s latest collaboration will see Zand Bank and Mamo use the company’s blockchain-based payment solutions for effective cross-border remittance. Remarkably, the duo are prominent financial institutions based in the UAE.
For perspective, Zand Bank is the first commercially licensed, fully digital bank in the UAE. The financial institution has shown its flair for blockchain-focused innovation with the Ripple partnership and plans to launch an AED-backed stablecoin.
Meanwhile, Mamo is a growing fintech company based in the UAE that focuses on international remittance. The firm will leverage the institution-grade Ripple Payments for fast, seamless, and cost-effective cross-border payments for its clients.
Interestingly, Ripple’s integration of its Ripple USD (RLUSD) stablecoin has further improved the options and credibility of its inter-region payment solution while boosting the stablecoin’s adoption. Notably, Ripple announced the addition in April, a move that sparked a debate over XRP’s utility in the ecosystem.
Ripple’s Middle East Expansion
Recently, Ripple became the first blockchain-focused payment provider to secure the Dubai Financial Services Authority (DFSA) licensing in March. Since then, its business has grown substantially in the Gulf region.
With access to the UAE’s $400 billion market and $40 billion remittance sector, Ripple has spread its coasts in the Middle East. Today’s partnership adds to the payment giant’s progress in the Middle East.
Recall that Ripple’s president, Monica Long, recently met with Emirates Group’s chairman, Ahmed bin Saeed, at the 2025 Fintech Summit in Dubai to discuss expanding its presence in the state. Notably, the increased association between the firm and the region underscores the interest of native crypto firms and traditional financial institutions in blockchain solutions.
Meanwhile, Ripple entered the UAE years ago, launching its regional headquarters in Dubai in 2020. Last year, it partnered with the Dubai International Financial Center (DIFC) Innovative Hub to facilitate early-stage crypto adoption in the Middle East.
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