Yigit Taha OZTURK 
Ripple has announced its first UAE-based clients — Zand Bank and Mamo — following the company’s recent licensing by the Dubai Financial Services Authority (DFSA), marking a key milestone in its Middle East expansion.
Despite this positive development, XRP fell nearly 6% on May 19, 2025, trading below $2.30 amid broader market volatility. Bitcoin briefly touched $106,000 before pulling back, triggering a wave of selling across the crypto sector.
UAE Partnerships Highlight Ripple’s Strategic Vision
Ripple’s DFSA license, granted in March 2025, allows it to offer end-to-end payment services in the UAE — a significant regulatory achievement. Reece Merrick, Managing Director for Middle East and Africa, said: “The DFSA license enables Ripple to solve cross-border payment inefficiencies in one of the world’s top financial hubs.”
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Zand Bank, one of the UAE’s fully licensed digital banks, will integrate Ripple’s blockchain to launch an AED-backed stablecoin, supporting efficient and transparent digital asset transactions across the region.
Meanwhile, Mamo, a fintech firm focused on small businesses and consumers, will use Ripple’s platform to provide faster and more reliable cross-border payments. CEO Imad Gharazeddine emphasized the importance of innovation in scaling their services in the UAE.
Ripple Payments: Expanding Global Footprint
Ripple Payments now operates in over 90 payout markets and has processed more than $70 billion in global transaction volume. In some cases, it utilizes XRP as a bridge currency through its On-Demand Liquidity (ODL) service, allowing instant conversion between fiat currencies.
With more than 60 regulatory licenses and registrations worldwide, Ripple is positioned as a leader in tokenization, digital asset custody, exchange, and global movement of value.
According to Ripple’s 2025 New Value Report, 64% of financial leaders in the Middle East and Africa see faster settlement as the primary benefit of blockchain in cross-border payments — a trend Ripple is now actively capitalizing on.
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