Share this article
Ripple Signs Two More Payment System Customers in UAE Expansion
The agreements follow Ripple securing a license from the Dubai Financial Services Authority (DFSA) in March.
May 19, 2025, 7:42 a.m.
What to know:
- Ripple added UAE-based Zand Bank and Mamo as customers as it expands its blockchain-based cross-border payments platform in the region.
- The agreements follow Ripple's acquisition of a license from the Dubai Financial Services Authority, enabling it to manage global payments for banks and fintechs.
- Ripple Payments operates in over 90 markets and has processed more than $70 billion globally, using XRP as a bridge currency in some transactions.
Ripple said it signed on two new UAE-based customers, Zand Bank and Mamo, as it expands Ripple Payments, the firm’s blockchain-based cross-border payments platform, in the region.
The agreements follow Ripple securing a license from the Dubai Financial Services Authority (DFSA) in March, allowing it to manage global payments end-to-end for banks, fintechs and crypto firms.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
“Securing our DFSA license enables Ripple to better serve the demand for solutions to the inefficiencies of traditional cross-border payments,” Reece Merrick, managing director for Middle East and Africa at Ripple, said in a Monday release.
Zand Bank said the partnership aligns with its push toward digital finance. “We are excited to soon launch an AED-backed stablecoin,” said Chirag Sampat, head of treasury and markets.
Imad Gharazeddine, CEO and co-founder of Mamo, said using Ripple’s services allows the company to offer “faster and more reliable cross-border payments” for both businesses and consumers looking to scale their UAE operations.
Ripple Payments currently operates in over 90 payout markets and has processed more than $70 billion in volume globally. The platform is available in Dubai, the U.S., Brazil, Mexico, Australia and Switzerland.
Ripple uses a global network of payout partners and blockchain infrastructure to move money in minutes. In some cases, it also uses its native digital asset, XRP, as a bridge currency through its On-Demand Liquidity (ODL) service, allowing clients to instantly convert one fiat currency to another using the token.
XRP prices are down 3.5% in the past 24 hours amid a broader market slump. The CoinDesk 20 Index has dropped 3.4%.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Most Influential: Carlos Domingo
The Securitize CEO ground through the uncool years of tokenization while NFTs, FTX and memecoins soaked up the hype. With billions in tokenized assets, a SPAC listing in the works and BlackRock as a flagship client and backer, Carlos Domingo’s early bet is finally paying off.
Top Stories
