Ripple has partnered with Zand Bank and Mamo in the UAE, marking a significant move in the Middle East region.
Zand Bank plans to incorporate Ripple's technology for digital asset services and launch an AED-backed stablecoin.
Ripple received a regulatory license from the Dubai Financial Services Authority (DFSA), enabling smoother cross-border payments and instant settlement.
With increased demand for its solutions in the Middle East, Ripple aims to strengthen its presence in the $400 billion market and $40 billion remittance sector.