Ripple, the creator of cryptocurrency XRP (XRP), Cross-border blockchain payments were launched in the United Arab Emirates (UAE), a development that could motivate the cryptocurrency adoption in a country that accepted digital properties.
The Zand Bank, the first all-digital bank of the UAE, and MAMO, a FinTech company that offers a digital platform platform for businesses, will be the main users of the blockchain payment system, according to a May 19 Ripple announcement.
https://www.youtube.com/watch?v=vb_u8wdose4
Zand Bank and MamO will use “Ripple Payment” to facilitate cross-border blockchain payments.
Ripple Payment is a platform that combines stablecoins, cryptocurrency, and Fiat to enable payments and quickly settlement, a web3 feature that cross-border traditional financial payment systems is often lacking. Ripple is Licensed to offer Dubai Financial Services Crypto payments Authority (DFSA) in March.
Reece Merrick, the director of the Ripple director for the Middle East and Africa, said getting this license “allows Ripple to better serve demand for solutions to traditional cross-border payments, such as high fees, long periods of settlement, and lack of transparency, in one of the largest cross-border hubs.”
Related: Ripple, Chipper Cash Partner for faster and cheaper African remittances
The UAE ranks 56 out of 151 countries for crypto adoption
The chainalysis, a Blockchain data platform, ranked the United Arab Emirates 56th in 151 countries for crypto adoption, According to In a 2024 report. The country has high scores in decentralized finances, stablecoin use, and altcoins.
The UAE has made some changes that may increase its ranking. Various Emirates, including Abu Dhabi and Dubai, attempted to promote themselves as crypto hubs.
In December 2024, Tether’s USDT (USDT) became an accepted virtual owner in Abu Dhabi. In 2025, the USDC of the Circle (USDC) and EURC became first identified by stablecoins Under the Emirate Crypto Token regime.
The country too The ongoing plans to establish a digital dirhamwhich would be a central digital currency.
On May 19, Dubai’s Virtual Assets Regulatory Authority (VARA) Announced more administration for crypto asset activitiesSpecific margin distribution and token distribution. There will be a 30-day transition period, and the affected companies are expected to comply with new policies on June 19.
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