Ripple Has Launched Its Cross-Border Blockchain Payments Platform in the UAE, Deepening Its Presence in the Region

The rollout brings Ripple Payments to the UAE through partnerships with Zand Bank, the country's first all-digital bank, and fintech platform Mamo.

Despite the U.S. Securities and Exchange Commission (SEC) still pursuing a case against Ripple over the sale of its XRP token, the firm has been busy expanding its cross-border blockchain payments platform into the Arab world.

The move deepens the firm’s presence in a region that’s positioning itself as a global digital asset hub.

What Happened: Ripple is launching its services in the UAE through partnerships with Zand Bank, the country’s first all-digital bank, and fintech platform Mamo. Both firms will be using Ripple’s technology to combine fiat, stablecoins, and cryptocurrency into a unified settlement system, thus facilitating international payments.

“We are thrilled to be launching our services in the UAE with Zand Bank and Mamo,” said Merrick. “The UAE is a dynamic and innovative financial hub, and we are proud to be playing a role in connecting the country's vast cross-border payments ecosystem.”

Both partnerships will focus on enabling seamless and efficient cross-border payments to various markets in Asia, Europe, the Middle East, and North America.

The firm received regulatory approval from the Dubai Financial Services Authority in March, granting it permission to offer crypto-enabled payment services in the region. The license allows Ripple to provide alternatives to legacy systems that have long struggled with delays, fees, and opaque processes.

Top executives at the firm previously said they are hopeful that the SEC case could be resolved by the end of the year.

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Merrick added that the UAE is “one of the world’s largest cross-border payments hubs”. Statistics from the International Monetary Fund show that cross-border payments in the Mena region are estimated at $700 billion annually.

The firm is expanding its push into Colombia through a program called Ripple Impact, a system that tracks each agricultural product, from planting to harvest, to make that information more accessible to buyers.

The South American country is a key exporter of coffee and cocoa, and small-scale farmers are often at a disadvantage when it comes to negotiating prices with large-scale buyers in other parts of the world.

Through Ripple Impact, the firm is working with local partners to develop a blockchain-based system that will track the entire supply chain and ensure that farmers are paid a fair price for their products.

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“We are committed to using our technology to create positive change in the world,” said Flores. “We believe that blockchain can help to build a more inclusive and sustainable future for all.”