Ripple broadens its presence in the UAE through partnerships with Zand Bank and Mamo
The Central Bank of the UAE (CBUAE) has announced a collaboration with Ripple, a leading blockchain solutions provider, to develop a stablecoin pegged to the UAE Dirham. This move is part of Ripple's broader strategy to influence the regional financial ecosystem.
Ripple has secured full licensing approval from the Dubai Financial Services Authority (DFSA) in March 2025, enabling it to oversee end-to-end payment operations within the UAE. This regulatory milestone marks a significant achievement for Ripple, as it becomes the first blockchain-enabled payments company to achieve this within the Dubai International Financial Centre (DIFC).
Zand Bank, a fully digital bank operating with a full banking license in the UAE, is one of the partners joining forces with Ripple. Zand Bank sees this collaboration as aligned with its vision of delivering high-grade blockchain services and digital asset solutions. The bank is developing a stablecoin pegged to the UAE dirham (AED) to accelerate domestic and international transactions.
Another partner is Mamo, a UAE-based consumer-centric fintech firm. Mamo has partnered with Ripple to simplify global payment processes for businesses and individuals. Mamo believes that blockchain-powered settlements will empower local businesses to explore international opportunities more confidently.
Ripple's expansion in the UAE is not only about partnerships but also about shaping policies related to stablecoins and supporting the integration of blockchain within the national finance system. Ripple is in active discussions with local regulators to achieve this goal.
Ripple's influence extends beyond the UAE. The company has processed over $70 billion in transactions through its Ripple Payments network. Internally, Ripple has found that over 60 percent of financial leaders across the Middle East and Africa region consider faster settlement to be a critical driver for adopting blockchain in payment systems.
In addition to its partnerships, Ripple is preparing for the regional debut of Hidden Road, a crypto brokerage it acquired earlier this year. Hidden Road is set to debut regionally in the United States.
These partnerships and regulatory milestones underscore Ripple's commitment to the UAE market and its regional momentum as it continues building partnerships that align with evolving market expectations and regulatory developments. With over 60 regulatory approvals, Ripple is well-positioned to become a foundational infrastructure provider for blockchain-based financial services.
