XRP Powers Cross-Border Blockchain Payments in UAE

XRP is taking a major step forward in global adoption as Ripple launches its cross-border blockchain payment services in the United Arab Emirates. This expansion highlights the increasing momentum behind cryptocurrency-based financial infrastructure in regions seeking faster and more transparent payment solutions.

Ripple, the company behind XRP, introduced its blockchain payment platform within the UAE with the support of key local partners. Zand Bank, recognized as the UAE’s first digital-only bank, and Mamo, a digital payments fintech, have been confirmed as the first institutions to implement these cutting-edge cross-border services.

These two organizations will use Ripple Payments, a platform engineered to merge stablecoins, cryptocurrencies, and fiat currencies to facilitate global transactions with near-instant settlement. Ripple Payments addresses critical flaws present in traditional financial systems, such as high fees, processing delays, and limited transparency—challenges especially prevalent in international money transfers.

The recent deployment follows Ripple receiving regulatory approval for crypto payments from the Dubai Financial Services Authority earlier this year. This licensure empowers Ripple to operate within Dubai’s financial sector and enhances its ability to meet increasing demand for streamlined financial solutions across the Middle East and Africa.

Reece Merrick, Ripple’s managing director for the Middle East and Africa, expressed the significance of the license. He noted that the approval allows Ripple to better serve one of the world’s most active markets in cross-border payments, particularly by replacing outdated systems weighed down by inefficiencies.

Zand Bank and Mamo are expected to play a significant role in driving the adoption of Ripple Payments in the region. Their involvement signals a broader move toward digital-first banking and fintech integration across the UAE.

Crypto Adoption and Innovation in the UAE

In a 2024 report by Chainalysis, the UAE was ranked 56th out of 151 countries for cryptocurrency adoption. The nation scored well in areas such as decentralized finance, stablecoin application, and usage of alternative coins, indicating a growing comfort with blockchain technologies among its user base.

The UAE has taken proactive steps to improve its standing as a global crypto hub, with major cities like Abu Dhabi and Dubai enacting regulatory frameworks designed to attract blockchain innovators and financial technologists. These policy shifts have positioned the country to become a center for fintech development, especially in digital banking and payments.

Further signaling its openness to the evolving digital asset landscape, Abu Dhabi recently approved Tether’s USDt as an accepted virtual currency. In another development, Dubai acknowledged both USDC and EURC as legally recognized stablecoins under the emirate’s digital token regulations, making the UAE one of the first regions to formally integrate such tokens into its regulated financial ecosystem.

The UAE’s central bank is also advancing efforts to launch a digital version of the dirham, its national currency, by the end of 2025. This central bank digital currency initiative underscores the government’s commitment to digital transformation and next-generation financial infrastructure.

In tandem with these advancements, Dubai’s Virtual Assets Regulatory Authority introduced a new set of rules on May 19 to enhance oversight in the cryptocurrency space. These updates include tighter controls on margin trading and the distribution of digital tokens. A 30-day compliance window has been mandated to ensure that impacted firms align with the new requirements by June 19.

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Ripple’s strategic expansion into the UAE showcases its ambition to cement XRP as a core component of a future-proof global payment system. With supportive regulation, advanced financial players, and real-world use cases, XRP’s role in redefining how money moves across borders is becoming increasingly tangible in the UAE and beyond.