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Ripple Taps UAE Market with Blockchain Payment Rollout

  • Ripple has partnered with Zand Bank and fintech firm Mamo to integrate its platform for international transfers in the UAE market.
  • The service aims to streamline cross-border transactions using crypto, stablecoins, and fiat to address slow settlements and high fees.
  • Ripple secured a license from Dubai Financial Services Authority in March, enabling it to operate with regulatory approval in the dynamic financial center.
  • The UAE has been climbing the global crypto adoption ranks, embracing stablecoins and working towards a central bank digital currency, with Ripple's presence adding to the region's push to become a global crypto hub.

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